CNBC's David Faber and Jim Cramer discuss the influence of activist investors on corporate America as Hertz and Darden come under pressure from Carl Icahn and Starboard Value.» Read More
CNBC's David Faber and Jim Cramer discuss the departure of Hertz CEO Mark Frissora and incoming CEO Brian MacDonald. Cramer says the industry is on fire and Hertz will now be pulled up.
NEW YORK— Hertz Chairman and CEO Mark Frissora has stepped down from his posts for personal reasons. The car rental company said Monday that Brian P. MacDonald, president and CEO of Hertz Equipment Rental Corp., will serve as interim CEO of Hertz Global Holdings Inc. MacDonald has served as president and CEO of Hertz Equipment Rental since June.
HOUSTON, Sept 8- In June 2013, activist investors got the board of SandRidge Energy Inc to fire its CEO Tom Ward, arguing that he had mismanaged the Oklahoma City company and destroyed billions in shareholder value.
CHESAPEAKE, Va.— Family Dollar is rejecting Dollar General's latest acquisition offer, and Dollar Tree says it will now divest as many stores as needed to get antitrust clearance for its deal to buy Family Dollar.
NEW YORK, Sept 5- Dollar General Corp's sweetened $9.1 billion proposal to buy Family Dollar Stores Inc may fall short of allaying its smaller rival's fears U.S. antitrust regulators will block the deal, according to two sources familiar with the matter.
Billionaire investor Carl Icahn has sold his entire stake in Family Dollar.
NEW YORK, Sept 3- Billionaire investor Carl Icahn has sold his entire stake in Family Dollar Stores Inc, making a profit of about $200 million on the investment, according to sources familiar with the matter on Wednesday. Dollar Tree Inc agreed in July to buy Family Dollar for $8.5 billion.
Sept 3- Federal-Mogul Holdings Corp, controlled by billionaire investor Carl Icahn, said it would separate its motorparts and powertrain businesses into two publicly traded companies. Federal-Mogul shares were up 2.4 percent at $17.67 in early trading on the Nasdaq. Icahn Associates Corp held about 80 percent of Federal-Mogul as of June 30.
Paramount's "Teenage Mutant Ninja Turtles" and the Warner Bros. tear-jerker "If I Stay" claimed the second and third spots, just as they did the weekend prior. 2. "Teenage Mutant Ninja Turtles," Paramount, $15,622,005, 3,543 locations, $4,409 average, $166,277,985, 4 weeks. 3. "If I Stay," Warner Bros., $11,768,220, 3,003 locations, $3,919 average, $32,330,502, 2 weeks.
GOODLETTSVILLE, Tenn.— Dollar General upped its bid for the rival Family Dollar chain and addressed an earlier roadblock, saying that it will more than double the number of stores it would shed to ease the antitrust concerns of its takeover target.
FMHR trader Jon Najarian has seen strong options activity in one of Carl Icahn's favorite stocks Talisman Energy.
"It's clearly time to move past denial and swiftly to install great leadership for a great company like Hertz," Fir Tree said in a statement. Fir Tree has so far been alone in going public with complaints about Hertz' leadership, voicing the increasing frustration with Frissora that other investors privately say they share.
Aug 21- EBay Inc is considering a spinoff of PayPal, its fast-growing payments unit, as soon as next year, tech news website The Information reported, citing sources. EBay told potential candidates for the position of PayPal chief executive officer, a post that David Marcus vacated in June, about a possible spinoff of the payments unit, the website reported.
Aug 21- Family Dollar Stores Inc rejected a $9 billion buyout offer from Dollar General Corp and issued a sharp rebuke to accusations its CEO favors a smaller bid from Dollar Tree Inc because it would allow him to keep his job.
Aug 21- EBay Inc is considering spinning out its fast-growing payments unit PayPal as soon as next year, news website The Information reported, citing sources. EBay shares were up 5 percent at $56.08 on the Nasdaq. EBay Chief Executive John Donahoe has consistently said that PayPal was integral to eBay's business and a split would not make sense.
Ebay has been telling new recruits for PayPal's CEO that it may spin the payments service off as soon as 2015.
Billionaire investor Carl Icahn revealed he owns an 8.5 percent stake in Hertz and plans to pressure the rental car company's management.
Aug 21- Dollar General Corp questioned whether Family Dollar Stores Inc Chief Executive Howard Levine was being driven by self-interest in his support of a proposed takeover of his company by Dollar Tree Inc..
Last year Hertz adopted a so-called poison pill to prevent any one shareholder from gaining control of the company as activist investors began circling.
BOSTON, Aug 20- Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company's management over accounting issues and operational failures.