13D Monitor is a comprehensive research and advisory service
specializing in shareholder activism and 13D filings. Our clients include many of
the most successful long/short hedge funds, some of the largest institutional investors,
most of the premier activist hedge funds, investor relations companies, proxy solicitors
and proxy advisory firms. We have a weekly column on the 13D page of Barron’s entitled
The Activist Spotlight, contribute to the Wall Street Journal and many other news
outlets and have appeared on Bloomberg TV to discuss activism.
13D Monitor reviews every 13D filing (over 8,500 each year)
and distributes to our clients within hours of the filing detailed reports on all
material filings. We distinguish ourselves as the preeminent service in four significant
ways:
- Focus: We do nothing other than
review, analyze and report on 13D filings and shareholder activism. As a result
we have relationships with virtually every activist and professional involved in
shareholder activism as well as many institutional investors who are often stockholders
of the situations we report on.
- Value-Added Commentary: We do not just provide data, we provide information.
Our reports contain value-added commentary on the 13D filing and the 13D filer.
Our commentary is based on our knowledge of the activist and its history, our corporate
governance analysis of the company, our conversations with the activist and our
conversations with shareholders, proxy solicitors, proxy advisory services and other
professionals. Some prime examples are:
- Atticus/Phelps Dodge: 13D Monitor Commentary (10/11/06; stock price;
$89.78) - In past 13D filings, Atticus was "strongly encouraging the
Company to put itself up for sale. In three of the[ir] other four 13D filings,
the Company was ultimately merged or sold to another entity."
11/19/06: Freeport McMoRan announces acquisition of Phelps Dodge for $126.46 per
share.
- Elliott Management/MSC Software: 13D Monitor Commentary (2/12/09; stock price; $5.60)
- "Elliott's prior 13D disclosure and the language of the standstill agreement suggest
that Elliott is talking with the Company about a potential acquisition and may make
such an offer to the Company in private prior to June 30, 2009." 7/7/09; Elliott
makes offer to acquire MSCS for $7.63 per share.
- Shamrock/Texas
Industries: 13D Monitor Commentary (6/29/09; stock price; $31.74) - In commenting
on Shamrock’s proxy fight: "Shamrock should most definitely receive Sawiris' support,
and will likely get the support of Southeastern... " 9/1/09: Southeastern announces
its support of Shamrock; 9/17/09: Sawiris announces his support of Shamrock
- Comprehensiveness: We send reports on every material 13D
and 13D/A filing and only material 13D and 13D/A filings. Our clients know that
they are not missing any interesting 13D filings, and because we actually read each
filing, our clients are not inundated with reports on boilerplate, non-material
13D filings.
- Timeliness: Our reports are distributed within two hours
(during market hours) of the 13D filing, or before the market opens the next day
for filings made after market hours.
Our
Online Activist Database contains, among other
things, detailed analysis on all material activist campaigns, the activist profiles
and returns histories of all activist investors, a detailed summary of all live
13D filings, sortable by industry, market cap., returns and activist measures taken
(i.e., director nominations, share buybacks, redemption of poison pill, etc.), and
a sortable library of activist letters and agreements.
We also periodically distribute
Activist Screens
as potential idea generators, such as a list of companies who have an activist or
an affiliate of an activist on the Board and where the current stock price is below
the activist’s cost.