Brooks opts for a sale over a spinoff

In May 2021, Brooks Automation, a leading supplier of robotic handling and sorting equipment to manufacturers, announced that it would spin off its semiconductor-related operations as a separate firm.
However, Brooks decided instead to sell this business to private equity firm Thomas H. Lee Partners for… Read More

Q: Hi. You recently had Citrix as an aggressive hold in your Spinoffs & Takeovers newsletter. Citrix just announced its CEO was stepping down, and the stock has been selling down since the announcement. Do you have any details as to the circumstances surrounding the CEO’s departure? Does it have anything to do with the activist investor hedge fund Elliott Management? Has your opinion on the company changed since this development? Regards.

A: Citrix Systems, $99.77, symbol CTXS on Nasdaq (Shares outstanding: 124.2 million; Market cap: $12.5 billion; www.citrix.com), sells products and services to corporations to let their employees remotely access all the software, apps and data they rely on to do their jobs.

Instead of installing individual… Read More

Big win for CP investors

CANADIAN PACIFIC RAILWAY $84.20, is still a buy. The company (Toronto symbol CP; shares outstanding: 666.9 million; Market cap: $56.0 billion; Rating: Above Average; Dividend yield: 0.9%) has won its takeover battle for U.S.-based railway Kansas City Southern (New York symbol KSU). That’s after KCS… Read More

Pembina moves forward

PEMBINA PIPELINE, $40.90, is still a buy. The company (Toronto symbol PPL; Shares outstanding: 550.0 million; Market cap: $22.6 billion; TSINetwork Rating: Average; Dividend yield: 6.2%; www.pembina.com) has lost out in its takeover bid for Inter Pipeline Ltd. (symbol IPL on Toronto). Brookfield Infrastructure Partners… Read More