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Tag: Elliott Management


Elliott Investment Management calls for break-up at Honeywell

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Elliott Investment Management calls for breakup at Honeywell

November 12, 2024SSN Staff

WEST PALM BEACH, Fla. — Activist investor group Elliott Investment Management has built a $5 billion dollar investment in Honeywell International inc. and is calling for the company to simplify its conglomerate structure. In a letter addressed to the Honeywell board of directors, Elliott outlined that while the company has been an “…iconic pillar of the American industrial complex,” it has recently shown signs of inconsistent financial performance and uneven...

Elliott Management, Global Access Solutions, Honeywell, Honeywell Aerospace Technologies, Honeywell Automation


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George R. Oliver

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Johnson Controls CEO George R. Oliver to retire

August 2, 2024SSN Staff

CORK, Ireland—Johnson Controls announced that George R. Oliver will retire following the company's substantial progress on its portfolio transformation. Oliver has led the Johnson Controls' business and portfolio transformation since becoming Johnson Controls chairman and CEO in 2017. He will continue to serve as chairman and CEO until a successor is named and will remain chair of the board once the new CEO is named to allow for a smooth management transition. "It has...

Elliott Management, General Electric, George R. Oliver, Harsco Corp., Johnson Controls (JCI), Jurgen Tinggren, Marc Steinberg, Patrick Decker, Tyco, Xylem Inc.


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NRG quarterly performance points to accelerating integration of smart home services into commercial operations

Residential

NRG quarterly performance points to accelerating integration of smart home services into commercial operations

November 3, 2023Ken Showers, Managing Editor

HOUSTON – During its third fiscal quarter financial results webcast NRG Energy revealed new guidance for 2024 above the initial investor day plan and has been hastening its integration of Vivint's smart home offerings into its commercial operations. The company reported a third quarter 2023 Net Income of $343 million. Adjusted EBITDA for the third quarter was $973 million, Cash Provided by Operating Activities was $566 million, and Free Cash Flow Before Growth Investments...

Elliott Management, Mauricio Gutierrez, NRG Energy, Rasesh Patel, SkyBell Technologies, smart home, Third Quarter (Q3)


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Monitoring Matters

N too deep

June 21, 2023Ken Showers, Managing Editor

I’m not surprised we’re back here talking about Vivint again, if anything I think I’m feeling a bit justified with my earlier assessment of the situation, at least where optics are concerned. I talked about it a bit in a previous blog post. To say I was uncharitable would gild the lily, so I'll just say I was honest about my views of the potential sale. Truthfully, I thought the deal wasn’t going to happen at all considering the various lawsuits and implied liability...

Elliott Management, investor day, NRG Energy, Vivint


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Vivint expands into smart lighting as parent company NRG squares off against activist investor

Residential

Vivint expands into smart lighting as NRG squares off against activist investor

June 19, 2023SSN Staff

HOUSTON – Smart home company Vivint has branched out into a new residential product category this month as its parent company faces opposition from investors. Vivint Smart Lighting is a solution the company said is designed to make homes, "Safer, smarter, and more sustainable.” The company said the products allow users to place switches anywhere without requiring electrical work while expanding the smart capability of a home.  It marks one of the first major announcements...

Elliott Management, NRG Energy, Residential, smart home, Vivint


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Canon-Axis deal done despite hedge-fund holdout

April 29, 2015Martha Entwistle

TOKYO—In a bid that industry analysts told Security Systems News is intended to get Canon to increase its $2.8 billion offer for Axis Communications, Elliott Management, a New York hedge fund, increased its stake in Axis to 10.91 percent and has not yet sold those shares to Canon. Canon now owns 84 percent of Axis shares. On April 24, Canon extended the offer period a second time, from the original April 15 to May 5. Canon said it would neither extend the offer period again nor raise its...

Axis Communications, Canon, Elliott Management, Imperial Capital, Jeff Kessler, Richard Berger


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