July 30, 2016 5:46 AM ET

Capital Markets

Company Overview of ValueAct Capital Management L.P.

Company Overview

ValueAct Capital Management L.P. is a privately owned hedge fund sponsor. The firm provides its services to high net worth individuals and institutions. It invests in the public equity and hedging markets. The firm primarily invests in share re-purchase programs, public market recapitalizations, de-leveraging equity infusions, off-balance sheet financings, and going-private transactions. It also makes direct investment in private companies. ValueAct Capital Management L.P. was founded in 2000 and is based in San Francisco, California. The firm operates as a subsidiary of Valueact Holdings, L.P.

1 Letterman Drive

Building D

4th Floor

San Francisco, CA 94133

United States

Founded in 2000

Phone:

415-362-3700

Fax:

415-362-5727

Key Executives for ValueAct Capital Management L.P.

Co-Founder, Chief Executive Officer, Chief Investment Officer, Director, and Member of Management Committee
Age: 54
President, Partner, and Member of Management Committee
Age: 40
Chief Financial Officer and Partner
Partner, Chief Operating Officer, and Member of Management Committee
Age: 50
General Counsel and Partner
Age: 53
Compensation as of Fiscal Year 2016.

ValueAct Capital Management L.P. Key Developments

ValueAct to Pay $11 Million to Settle DoJ Suit

The U.S. Department of Justice announced that ValueAct has agreed to pay $11 million to settle allegations that certain ValueAct entities violated the reporting and waiting period requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976. As part of the settlement, ValueAct has also agreed to injunctive relief designed to prevent future violations. On November 17, 2014, Baker Hughes and Halliburton announced their plan to merge in a deal valued at $35 billion. Thereafter, ValueAct, an activist investment firm, purchased over $2.5 billion of Halliburton and Baker Hughes voting shares without complying with the HSR Act's notification requirements. According to a complaint filed on April 4, 2016 in the U.S. District Court for the Northern District of California, ValueAct purchased these shares with the intent to influence the companies' business decisions - including decisions related to the merger - and therefore could not rely on the limited "investment-only" exemption to the HSR Act's notification requirements. The complaint detailed how ValueAct used its access to senior executives of both Halliburton and Baker Hughes to attempt to influence the companies' proposed merger and other aspects of their businesses. Halliburton and Baker Hughes abandoned their proposed merger on May 2, 2016 after the Antitrust Division sued to block it in U.S. District Court for the District of Delaware. Federal courts can assess civil penalties for premerger notification violations under the HSR Act in lawsuits brought by the department. The current maximum civil penalty for an HSR violation is $16,000 per day; however, the maximum penalty will increase to $40,000 per day effective August 1, 2016. As part of the settlement, ValueAct agreed to pay a record $11 million. The highest fine previously paid for an HSR violation was $5.67 million. ValueAct is also enjoined from relying on the "investment-only" exemption when it intends to influence, or is considering influencing, certain basic business decisions, including those relating to merger and acquisition strategy, corporate restructuring, and the company's pricing, production capacity, or production output.

U.S Department of Justice Sues ValueAct Capital for Violating Premerger Notification Requirements

The U.S Department of Justice said it filed a civil antitrust lawsuit in the U.S. District Court for the Northern District of California against certain ValueAct Capital entities for violating the reporting and waiting period requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976 or the "HSR Act". The Antitrust Division's lawsuit seeks civil penalties and an injunction against further HSR Act violations. According to the complaint, ValueAct purchased these shares with the intent to influence the companies' business decisions as the merger unfolded and therefore could not rely on the limited "investment-only" exemption to HSR notification requirements. The complaint details how ValueAct used its access to senior executives of both Halliburton and Baker Hughes to formulate merger and other business strategies with the companies.

ValueAct Capital, LLC Presents at 6th Annual Leerink Partners Healthcare Summit, Sep-18-2015 09:30 AM

ValueAct Capital, LLC Presents at 6th Annual Leerink Partners Healthcare Summit, Sep-18-2015 09:30 AM. Venue: Meadowood Napa Valley, Napa Valley, California, United States. Speakers: Rob Hale, Partner.

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