JANA Partners’ activist campaign with Civeo ends abrubtly on New Year’s Eve

January 7th, 2015
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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.
For Detailed Investor Profiles on these Investors, click below:
JANA Partners
Related People: Barry S. Rosenstein; Gary Claar
Related Entities: JANA Capital LLC; JANA Master Fund LP; JANA Nirvana Fund LP; JANA Partners LP; JANA Piranha Fund LP
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles; Investment Management and Hedge Fund Firm Mergers, Acquisitions, Spin-offs and Transactions

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