Activist Starboard Value halves its stake in Newell -filing [Reuters]
Newell Brands Inc. (NWL)
Last newell brands inc. earnings: 5/1 07:30 am
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Source: Reuters
Activist Starboard Value halves its stake in Newell -filing | Reuters 2 Min Read BOSTON, Aug 14 (Reuters) - Hedge fund Starboard Value said on Tuesday that it sold half of its stake in consumer products company Newell Brands, whose chief executive officer it sought to replace, about four months after ending its proxy contest. The activist firm, run by Jeffrey Smith, said it owned 8.7 million shares of the maker of Sharpie markers, Mr. Coffee machines and Elmer’s Glue on June 30 after selling 9.8 million shares at some point during the second quarter. Starboard bought in during the first quarter of 2018. The information came in a filing with the Securities and Exchange Commission that requires large investment managers to say which U.S. stocks they own. Early in the year, Starboard owned 3.8 percent of Newell and called for Chief Executive Michael Polk to be ousted and the entire board to be replaced. The company struck a deal giving Starboard two board seats in April. Smith called the
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NWL
Earnings
- 2/9/24 - Beat
NWL
Sec Filings
- 3/27/24 - Form ARS
- 3/27/24 - Form DEFA14A
- 3/27/24 - Form 3
- NWL's page on the SEC website