This article was posted on the front page of the Wall Street Journal today. Below is a snippet. Could be a v. v. big deal. The implications of this is that if WoTC is spun off another company could buy it. And the only ones really with that kind of market cap are your really big ones. Worth watching this closely.
Alta Fox Capital Management has nominated five directors to the toy company’s board, saying its stock has been trailing the broader market.
www.wsj.com
A little-known activist investor is seeking to add several directors to Hasbro Inc.’s board and is urging the toy maker to make changes including a spinoff of its fast-growing unit housing games such as Dungeons & Dragons.
Alta Fox Capital Management LLC, which has a 2.5% stake in Hasbro worth roughly $325 million, has nominated five directors to its board, according to a letter viewed by The Wall Street Journal that will be sent to the company’s shareholders. Shareholders will vote on director nominees at Hasbro’s annual meeting this spring.
Alta Fox, which says in the letter that it has spoken to Hasbro, noted that the company’s stock price is lower than it was five years ago and has significantly trailed the broader market. Alta Fox believes Hasbro could double its valuation by spinning off the unit that houses the Dungeons & Dragons business.
Hasbro said in a statement it will review Alta Fox’s nominees. It said it is excited to welcome its new chief executive officer, Chris Cocks, who previously led the unit housing Dungeons & Dragons, known as Wizards of the Coast and Digital Gaming.
