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Stock Market & Financial Investment News

News Breaks
January 2, 2013
08:25 EDTRLDRealD added to Focus List at B. Riley Caris
B. Riley Caris added RealD to its Focus List given an improved near-term outlook and expectations for a significant ramp in 2013 3D movie releases. Shares are Buy rated with a $16 price target.
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October 29, 2014
17:39 EDTRLDStarboard Value sends disapproving letter to board of RealD
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12:39 EDTRLDStarboard urges RealD to 'immediately engage' about $12 per share bid
Starboard Value, one of the largest shareholders of RealD with beneficial ownership of approximately 9.9% of the outstanding common stock of the company, announced that it has delivered a letter to the company's CEO and board of directors. In the letter, Starboard Value stated in part: "Four weeks ago today, Starboard Value LP, together with its affiliates, submitted a non-binding indication of interest to purchase all of the outstanding shares of RealD that we do not currently own at a price of $12.00 per share in cash...Unfortunately, despite multiple attempts to engage constructively with you to discuss our Proposal, to date you have neither provided us with any meaningful feedback, nor shown any willingness to engage with us, regarding our Proposal...Not a single shareholder we have heard from is in favor of you simply ignoring our Proposal and going back to business as usual. Further, many shareholders believe that the best course of action for the Company is to undertake a robust exploration of strategic alternatives to maximize shareholder value, including a sale of the Company. You should make no mistake about our sincere desire and ability to own RealD and, if necessary, our willingness to participate in a competitive process to buy the Company. We strongly urge you and the Board of Directors to reconsider your uncooperative approach, and instead immediately engage with us to explore the Proposal and negotiate a transaction."

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