Activist investor Marcato Capital Management (4.9% stake) released a presentation urging Dillard’s (DDS) to split off its real estate into a REIT, outside of the operating company. It compared the plan to several other major co’s that have taken a similar approach including Sears, HBC, and Loblaw. Marcato estimated that the combined value of the companies, if this approach is taken, would increase 75% to $193 per share. See the full presentation here
Activist Target
