The Deal

The Deal podcast network brings The Deal’s award winning coverage in M&A, activist investing, private equity and restructuring to your airwaves. With a suite of offerings, including Activist Investing Today (hosted by Senior Editor Ronald Orol), Drinks With The Deal (hosted by Senior Writer David Marcus and Senior Reporter Bill Meagher), Behind The Buyouts (hosted by Senior Reporters Steve Gelsi, Nikitha Sattiraju and Senior Writer Chris Nolter) and Fresh Start (hosted by Senior Reporter Stephanie Gleason), The Deal’s podcast network is your go-to source for timely financial news and perspective.

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Episodes

Activist Investing Today: Applebaum On Icahn, Activism and Why Analysts Make Good Directors

The Activist Investing Today podcast talked to Michelle Applebaum, a former steel analyst who has been nominated by insurgent managers Barington Capital and Land & Buildings for corporate boards, about why she thinks activists' analytics are quite sound. She also explains why activist investors often represent a consensus view of institutional investors, long before management has figured it out.

Nov 02, 2018•24 min

Activist Investing Today: Why Dan Loeb is Spear-Heading the Biggest Activist Campaign of 2018

Activist Dan Loeb thinks Campbell Soup Co. should be sold and wants a full revamp over the board. The Deal's Senior Editor Ron Orol gave us the up-to-the-minute scoop.

Nov 02, 2018•7 min

Activist Investing Today: Marathon’s Cibelli on CEO pay, e.l.f., Shutterfly Campaigns

Marathon Partners' manager Mario Cibelli explains why e.l.f.’s ‘fast beauty’ strategy can get its cosmetics into market faster than “legacy” rivals. While he foresees a bright future for the company, he has real concerns about executive compensation. Cibelli, 50, who succeeded in installing two dissidents onto the board of Shutterfly in 2015, also suggested that e.l.f. needs to bring on a designated lead independent director that isn’t affiliated with buyout shop TPG.

Nov 02, 2018•27 min

Activist Investing Today: A Q&A With Wynnefield Capital’s Obus

The insurgent investor Nelson Obus explains how listening in on his dad’s basement meetings put him on the road to investing, then later, Lazard banking and finally activism. In a wide-ranging conversation, Obus, 71, explains what kind of companies he finds attractive and why this year his 25-year-old fund opposed another activist investor’s director battle. He also gave us an inside look at how he shook up the board of Omega Protein, an “entrenched” company that was diversifying in all the wron...

Nov 02, 2018•34 min

Activist Investing Today: Barington’s Mitarotonda on Avon, Outback Steakhouse and Xerium

James Mitarotonda, who has run activist fund Barington Capital since 2000, says he takes a private-equity approach to public market investments in companies that frequently have high barriers to entry. However, Mitarotonda acknowledges that he will launch a director-election fight if necessary. For example, Barington is seeking to install two directors onto the board of Xerium Technologies as part of an effort to drive the paper machine manufacturer to explore a "strategic transaction that ...

Nov 02, 2018•17 min

Activist Investing Today: Sloane's Zacchei on Realistic Expectations For Activists

Sloane & Co.'s Dan Zacchei, who advises both targeted companies and investors involved in activist situations, suggests that an insurgent fund manager’s track record is a key factor corporations must consider before deciding how to respond. According to Zacchei, a company that has underperformed for an extended period of time needs to be realistic about its prospects, particularly when faced with a well-respected activist. Alternatively, he argues that first-time activists with tiny fun...

Nov 02, 2018•16 min

Activist Investing Today: Sidley’s Liekefett On War-and-Peace-Time in Activism

Kai Liekefett recently joined Sidley Austin to become the law firm behemoth’s dedicated partner in charge of proxy fights and activism. He explains why many corporations have bylaws in place that just don’t prepare them for when an insurgent investor strikes.

Oct 22, 2018•27 min

Activist Investing Today: Engine Capital's Ajdler on Activism, CST Brands and Nelson Pelt

Since 2013, the insurgent investor Arnaud Ajdler with a “fix it or sell it” investment philosophy has put 20 directors onto corporate boards. He took some time to speak with The Deal’s activist podcast about key targets for share-price improvement: M&A, capital allocation and C-Suite payments. Ajdler also explains why he thinks Procter & Gamble’s decision to fight Peltz was “silly.”

Oct 22, 2018•17 min

Activist Investing Today: Shill On Male Activists Targeting Women CEOs and Musk’s Control of Tesla

The Activist Investing Today podcast speaks to Gregory Shill, a University of Iowa associate professor of law, about the “glass cliff” and why we’re seeing a rash of female C-Suite executives targeted by insurgent fund managers. We also take a closer look at the various types of insider-controlled publicly-traded companies, including Musk’s complex and effective form of control over the electric-car company that he oversees.

Oct 22, 2018•23 min

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