ValueAct Capital Takes 6.8% Stake in ADS
July 11 2016 - 7:47AM
Dow Jones News
By Austen Hufford
Activist investor ValueAct Capital Management LP disclosed
Monday that it had bought a 6.8% stake in Alliance Data Systems
Corp. and intends to begin discussions with the customer loyalty
program operator over how to increase shareholder value.
Shares of the company, which operates loyalty programs and
private-label credit cards, rose 2.5% to $205.99 in premarket
trading. So far this year, the company's stock has fallen 27%.
ValueAct said in regulatory filings that it holds 4 million
shares, which it says are undervalued.
The activist investor plans to hold talks with management and
the company's board over potentially adding a ValueAct
representative to the board and other topics related to the
company's business.
In March, Rolls-Royce Holdings PLC named a ValueAct
representative to its board after the investor reported a
stake.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
July 11, 2016 07:32 ET (11:32 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Rolls Royce (PK) (USOTC:RYCEY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Rolls Royce (PK) (USOTC:RYCEY)
Historical Stock Chart
From Jul 2023 to Jul 2024
