|What an oily mess JANA Partners made last year. According to the Securities and Exchange Commission, JANA sold off 12 million shares of Civeo Corporation on the last day of trading in 2014. Under a restructuring that took place in mid-2013, activists Jana and David Einhorn’s Greenlight Capital partnered up, making plans to split Civeo from Oil States International. |
Too bad it wasn’t until late September of the same year that Civeo realized their REIT conversion would garner them a hefty $300 million tax bill. Civeo shares sold on Dec. 30th, for $4.11 per share, down from $20.00 it had traded at in May.
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