Monday, December 22, 2014
Retail Will Be A Gift That Keeps Giving For Hedge Funds In 2015
When Office Depot ODP NaN% closed its merger with OfficeMax in May and Family Dollar Stores FDO +0.34% announced its sale to Dollar Tree DLTR +0.58% a few weeks later, it looked like two great hedge fund trades were coming to an end. Instead, both nationwide retailers remain favorites for activist investors as they press new ideas that could push shares higher.
In the case of Office Depot, investors want to retry a mega merger of the company with competitor Staples SPLS +0.11%, wrenching out synergies as the office supply stores consolidate their retail footprint and focus on distribution away from stores. Leading the charge is activist fund Starboard Value, which was a driving force behind the Office Depot and OfficeMax merger that paid off handsomely this year as the deal closed after a lengthy Federal Trade Commission review.
To read full article, click here.
Source: Antoine Gara (www.forbes.com)
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