https://www.politanmgmt.com/ Politan GP is an affiliate of Politan and serves as the general partner of clients that are organized as U.S.certain and Cayman Islands exempt limited partnerships. Subscribe to WhaleWisdom to view all filing data Politan asserts that the bylaw contravenes Delaware law by entrenching Masimos management and interfering with shareholders right to vote for directors. As part of the deal, the board will appoint five new directors, including Ken Burdick, former CEO of WellCare, which Centene acquired for $17 billion in 2020; Ted Samuels, a former investment. To embed, copy and paste the code into your website or blog: Get the latest business insights from Dun & Bradstreet. for Q3 2022: Percentage of assets under management,Performance-based fees, MANAGING PARTNER, CHIEF INVESTMENT OFFICER, AND CHIEF COMPLIANCE OFFICER | LIMITED PARTNER, PORTFOLIO MANAGER AND CHIEF COMPLIANCE OFFICER, MANAGING MEMBER POLITAN CAPITAL MANAGEMENT GP, LLC. For all but the brand-name activists, recruiting qualified directors to sign onto their causes will still be difficult, as will securing the capital to build a formidable stake. The industry leader for online information for tax, accounting and finance professionals. Mr. Politan is also a member of the Global Finance Practice Group. The pressure comes in an effort to motivate Centene's stocks, which haven't seen the growth that its peers' have, the Journal reported. This copy is for your personal, non-commercial use only. While it would still be our preferred path to work constructively with Mr. Kiani and the Board, we must seek relief in Delaware court simply to preserve the fundamental ability to nominate directors in time for Masimos next annual meeting. https://www.wsj.com/articles/politan-capital-management-has-roughly-900-million-stake-in-centene-11635966370. The Board cannot create its own set of rules by which it is elected and deny stockholders the ability to select who represents them. Information demands include: The names of the nominating stockholders passive limited partners ("LPs") as well as their and their families investment holdings in the Companys competitors or counterparties to litigation (including stock holdings in companies as commonly held as Alphabet Inc., Amazon.com Inc., Apple Inc., Medtronic plc, and Samsung Electronics Ltd). Whalewisdom has at least 4 13F filings, and 3 13D filings. {"search": "/search", "clicked": "/clicked", "portfolio_add": "/portfolio-add", "portfolio_remove": "/portfolio-remove", "portfolio_create": "/portfolio-create", "portfolio_activate": "/portfolio-activate", "portfolio_delete": "/portfolio-delete", "portfolio_rename": "/portfolio-rename", "portfolio_color": "/portfolio-color", "home_filter": "/home-filter", "htmlspeed": "/htmlspeed", "add_tag_firm": "/add-tag-firm", "add_tag_click": "/add-tag-click", "copy_aum": "/copy-aum", "stripe_checkout": "/stripe-checkout", "update_card": "/update-card"}, {"uid": 48314414, "pid": -1, "pid_a": [], "name": "", "email": "", "blacklist_f": false, "paywall_f": false, "paywall_n": 0, "random_n": 0}, Greenbrier Partners Capital Management LLC, Affirmative Investment Management Partners Limited, (a) Individuals (other than high net worth individuals), (b) Individuals (high net worth individuals), (i) State or municipal government entities, (l) Sovereign wealth funds and foreign official institutions, (m) Corporations or other businesses not listed above. A Dartmouth college graduate, she has worked as a journalist in New York covering the legal industry and the law for more than three decades. NEW YORK, October 21, 2022--Politan Capital Management (together with its affiliates, "Politan"), an 8.8% stockholder of Masimo Corporation ("Masimo" or the "Company") (NASDAQ: MASI), filed a lawsuit in the Court of Chancery of the State of Delaware today against the Company and its Board of Directors (the "Board"). [1]: Many of the Bylaw Amendments are unprecedented among publicly traded companies. We are delighted that you'd like to resume your subscription. They contend that they are entitled to discovery to prove that Masimo's suspicions were well-founded. Most recently, Koffey led . Politan Capital Management LP, founded by veteran activist Quentin Koffey, has a 9% stake in Masimo worth roughly $750 million, the people said. Universal Proxy Cards: Will the SECs New Rules Produce Change in the Boardroom? Kimberly Dart Heidt's Post Kimberly Dart Heidt Principal at Dart Retail Advisors, Inc. 6d You may cancel your subscription at anytime by calling site you are consenting to these choices. They do not send angry public letters, and they do not seek proxy fights. Masimo, meanwhile, says the case is fundamentally distinct from books-and-records actions. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. This organization has been operating for approximately 5 years. Politan has compared the discovery dispute to litigation over plaintiffs demands for corporate books and records, arguing that Masimo should not be allowed to use the backdoor of discovery to obtain investor information thats at the heart of the funds challenge to the merits of the bylaw. But, this process has to start at the Board, and this is where Koffey's activist expertise will come into play. The industry leader for online information for tax, accounting and finance professionals. Now, every season is activist season, and companies would do well to consider five key questions as they prepare for the year ahead. Centene's stock price climbed 0.83% in early trading on Tuesday. Politan Capital is located in Great Neck, New York. The companys lawyers at Quinn Emanuel Urquhart & Sullivan and Paul Hastings have said Masimo adopted the bylaw to promote transparency after the U.S. Securities and Exchange Commission changed proxy voting rules to require that companies present shareholders with all board candidates on a single voting card. Victor Mashaal's: Senvest Management. Politan is a company with a strong and stable position developed over many years, not only on the Polish market. Masimo, broadly speaking, insists that Delaware courts must uphold corporations discretion to require disclosures from would-be board members who may have ulterior motives. But for companies involved in M&A, bumpitrage is no joke. POLITAN CAPITAL PARTNERS L.P. (DOS ID: 6283541) was incorporated on 2021-09-17 in New York. You may change your billing preferences at any time in the Customer Center or call The discovery dispute, by itself, won't determine the merits of Politan's closely watched challenge to a bylaw that Masimo adopted after the hedge fund acquired an 8.4% stake in the company earlier this year. Dover, DE 19904. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. We act innovatively and think ahead. Masimo responded that the disclosures were insufficient and did not comply with the bylaws, further reinforcing that the Bylaw Amendments, in effect, preemptively block stockholders from nominating candidates for election to the Board. Industry: Pooled Investment Fund (See others in industry) Address: C/O Schulte Roth & Zabel Llp 919 Third Avenue, Suite 2300 New York, NY, 10022 Phone: 212-756-2000 . Our Standards: The Thomson Reuters Trust Principles. Howard Marks's: Oaktree Capital Management. Morsa Images | DigitalVision | Getty Images, Morgan Stanley's Q4 results show the Club holding is firing on all cylinders, as the stock soars. The Company's current operating status is Active Company Info DOS ID: 6283541 Current Entity Name: POLITAN CAPITAL PARTNERS L.P. Incorpration Date: 2021-09-17 Company Status: Active Entity Type: Part of the reason why Centene's margins lag its peers is because it has been growing primarily through acquisitions, most recently acquiring WellCare at a transaction valued at $19.6 billion. Date Filing Type Reported Sold Incremental Cash Type Exemptions Link to Raw Filing; 2022-09-16 Amended: $185,218,748: $185,218,748: Masimo, meanwhile, contends in a countersuit against Politan that the company's advance notice bylaw is a legitimate way to assure that shareholders have sufficient information about proposed board candidates including dissident candidates potential conflicts before they vote on corporate directors. Centene is a managed care organization that provides health plan coverage to individuals through government-subsidized and commercial programs. Most recently, Koffey led the activism strategy at Senator Investment Group. Kent, DE; United States; Agent Name COGENCY GLOBAL INC Agent Address De-SPACed companies those that have gone public through a merger with a special purpose acquisition company (SPAC) have become especially vulnerable to activist attacks. DELAWARE DOMESTIC LIMITED PARTNERSHIP. Politan, which has not confirmed that EnTrust is an investor, has asked the Delaware court to quash that subpoena and to deny Masimos attempt to unmask all of its financial backers through the discovery process. Advance-notice bylaws are nothing new. Click Manage settings for more information and to manage your choices. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Instead, all shareholders have a full quiver at their disposal, and activism is just one arrow. A hedge fund and an electromechanical holding company inked deals at 106 West 56th Street, also known as The Six, Commercial Observer has learned. Business: Centene operates as a multi-national health-care enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Future plans to nominate directors at other public companies in the next 12 months as well as details on any prior proposals or nominations made within the last 36 months. NEW YORK, (BUSINESS WIRE) -- Politan Capital Management (together with its affiliates, "Politan"), an 8.8% stockholder of Masimo Corporation ("Masimo" or the. The fund is seeking a declaration that the bylaw cannot be enforced. Politan Capital is estimated to generate $132,482 in annual revenues, and employs approximately . Yet seeking a board seat is one thing, and winning one is quite another. 1. activist campaigns that may turn into full-fledged proxy fights. Stock Market Value: $44.2B ($75.86 per share). A case presently before the Delaware Court of Chancery challenging a corporation's advance notice bylaw amendments, initiated by activist investor Politan Capital Management LP in October 2022, [1] brings to mind the storied Icarus. Filings, and activism is just one arrow 's suspicions were well-founded your,. 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