These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Feb. 11 through Feb. 17, 2021. Source: InsiderScore.com
Icahn Capital reported a fresh holding of 27,807,410 shares in the pharmaceutical company, or 7.8% of the outstanding stock. Icahn Capital bought 22,774,263 of the Bausch shares through forward contracts for $17 apiece. Icahn Capital revealed that the Bausch investment was made “in the belief the shares were undervalued.” Further, Icahn Capital disclosed that it wishes to reach out to Bausch to discuss “ways to enhance shareholder value, including [Bausch’s] ongoing strategic review.” Such engagement may lead to board representation, though at this time, Icahn Capital currently doesn’t have any plans or proposals for a deeper activist stance.
Silver Lake Group reported a fresh interest in the newly public experience-management firm of 22,518,484 Class A shares. That entire position resulted from a purchase agreement between
International and an affiliate of Silver Lake that was effective on Dec. 23. Under the contract, Silver Lake subsidiary SLP Quartz executed two purchases at the close of Qualtrics International’s initial public offering on Feb. 1. The first transaction saw SLP Quartz buy 15,018,484 Qualtrics shares for $21.64 each; the second was SLP Quartz buying 7,500,000 shares at the IPO offering price of $30 each. As a result, Silver Lake now holds 25.6% of Qualtrics’ outstanding A shares. Also pursuant to the purchase agreement, Silver Lake co-CEO Egon Durban was named to the Qualtrics board.
Decreases in Holdings
Container Store Group
Leonard Green & Partners cut its position in the specialty retailer to 15,829,869 shares. Leonard Green affiliates sold 5,000,000
shares on Feb. 10 for $15.15 apiece as part of a secondary offering of Container Store stock. BofA Securities is acting as the sole underwriter for shares in the offering, which in total represents a 9.9% stake in Container Store. The retailer will not receive any proceeds from the offering. Outside of the announcement, no other details were cited for the divestment, which leaves Leonard Green and its affiliates with a 31.2% stake in the Container Store.
Option Care Health
Madison Dearborn Partners disclosed a reduced interest in the provider of infusion-therapy services of 97,015,391 shares. Madison Dearborn sold 17,250,000 Option Care Health shares through an offering that closed on Feb. 10 that priced at $18.23 per share. Following the sale, Madison Dearborn remains Option Care Health’s largest shareholder, with a 54% stake. Madison Dearborn is represented on Option Care Health’s board by three partners, including executive partner Harry Kraemer, who serves as Option Care Health’s chairman.