The activist fund Marcato Capital, fresh off a proxy battle with Buffalo Wild Wings, has taken a stake in a construction equipment maker it says is poised to grow after strategic re-positioning.
Mick McGuire of Marcato Capital talked about the stake at the Delivering Alpha conference in New York on Tuesday. Marcato began buying last year and has roughly 1.1 million shares of Terex Corp., according to its recent regulatory filing. It owns 6 percent of the company, McGuire said.
Shares of Terex rose 4 percent Tuesday, but were down 0.57 percent in after-market trading.
McGuire says the company's revenue should increase if expectations for economic growth come to fruition.
The activist fund recently came off a bitter proxy contest at restaurant group Buffalo Wild Wings, where it won three board seats and led to the resignation of CEO Sally Smith.
The conference is presented by CNBC and Institutional Investor.
