Tag: Elliott Management
NRG quarterly performance points to accelerating integration of smart home services into commercial operations
November 3, 2023Ken Showers, Managing Editor
HOUSTON – During its third fiscal quarter financial results webcast NRG Energy revealed new guidance for 2024 above the initial investor day plan and has been hastening its integration of Vivint's smart home offerings into its commercial operations.
The company reported a third quarter 2023 Net Income of $343 million. Adjusted EBITDA for the third quarter was $973 million, Cash Provided by Operating Activities was $566 million, and Free Cash Flow Before Growth Investments...
N too deep
June 21, 2023Ken Showers, Managing Editor
I’m not surprised we’re back here talking about Vivint again, if anything I think I’m feeling a bit justified with my earlier assessment of the situation, at least where optics are concerned.
I talked about it a bit in a previous blog post. To say I was uncharitable would gild the lily, so I'll just say I was honest about my views of the potential sale. Truthfully, I thought the deal wasn’t going to happen at all considering the various lawsuits and implied liability...
Vivint expands into smart lighting as NRG squares off against activist investor
June 19, 2023SSN Staff
HOUSTON – Smart home company Vivint has branched out into a new residential product category this month as its parent company faces opposition from investors.
Vivint Smart Lighting is a solution the company said is designed to make homes, "Safer, smarter, and more sustainable.” The company said the products allow users to place switches anywhere without requiring electrical work while expanding the smart capability of a home. It marks one of the first major announcements...
Canon-Axis deal done despite hedge-fund holdout
April 29, 2015Martha Entwistle
TOKYO—In a bid that industry analysts told Security Systems News is intended to get Canon to increase its $2.8 billion offer for Axis Communications, Elliott Management, a New York hedge fund, increased its stake in Axis to 10.91 percent and has not yet sold those shares to Canon.
Canon now owns 84 percent of Axis shares. On April 24, Canon extended the offer period a second time, from the original April 15 to May 5. Canon said it would neither extend the offer period again nor raise its...