ValueAct slides an atypically ajar shōji
14/04/2020 03:07
(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
By Jeffrey Goldfarb
HONG KONG, April 14 (Reuters Breakingviews) - After a
victory at Olympus, the U.S. investor is trying to push open the
latticed door at $4 bln JSR. Unusually for a Japanese company,
the synthetic rubber and chemicals maker has a foreign CEO and
regularly pays out cash. That means it could be receptive to an
outsider’s ideas.
Full view will be published shortly.
On Twitter https://twitter.com/jgfarb
CONTEXT NEWS
- ValueAct, an activist investment firm, on March 30
disclosed a 7% stake in JSR, a Japanese maker of synthetic
rubber and specialty chemicals used in semiconductors.
- A JSR spokeswoman said the company has spoken to ValueAct
as it does other shareholders, but she declined to comment on
the nature of the discussions or how long they had been taking
place.
- ValueAct said in a statement that it had “enjoyed getting
to know JSR’s management team and look forward to supporting
them in their transformation and growth strategy”.
- For previous columns by the author, Reuters customers can
click on GOLDFARB/
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Activist investor ValueAct takes 7% stake in Japanese chip
materials maker urn:newsml:reuters.com:*:nL4N2BN34V
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(Editing by Una Galani and Jamie Lo)
((jeffrey.goldfarb@thomsonreuters.com; Reuters Messaging:
jeffrey.goldfarb.thomsonreuters.com@reuters.net))