Advisory Research, Inc. to Tender all Clients' Longs Stock into CVS Caremark Tender Offer Oct 10, 2008 02:24PM

CHICAGO--(BUSINESS WIRE)-- Advisory Research, Inc. today announced that in view of Walgreens' withdrawal ...


CtW Investment Group Believes Longs RE Undervalued - Calls for Greater Disclosure Sep 3, 2008 01:49PM

WASHINGTON, Sept. 3 /PRNewswire/ -- The CtW Investment Group sent the following letter today to Longs Drug Stores Corporation Governance and Nominating Committee chairperson Dr. Mary S. Metz in response to the news that Longs entered into a previously undisclosed agreement with CVS/Caremark (CVS) not to reveal the value of its real estate portfolio. The text of the letter follows: September 2, 2008 Dr. Mary S. Metz Chairperson, Governance and Nominating Committee Longs Drug Stores Corporation 141 North Civic Drive Walnut Creek, California 94596 Dear Dr. Metz, We are disturbed by the news that Longs entered into a previously undisclosed agreement with CVS/Caremark (CVS) not to reveal the value of its real estate portfolio. We read public statements by David Heller, the Chairman of Advisory Research Inc., concerning information to this effect that he received from Longs' Chairman and CEO Warren Bryant. Like Mr. Heller, we view this as a highly questionable decision on Longs' part, since we believe ...


Advisory Research, Inc. Files 13D Regarding the Proposed Sale of Longs Drug Aug 20, 2008 06:09PM

CHICAGO--(BUSINESS WIRE)-- Advisory Research, Inc. ("ARI") currently holds for its clients in excess of 3.3 million shares of Longs Drug Stores ("Longs" or "the Company"), representing approximately 9.3% of ...


Large Longs Drug (LDG) Holder Advisory Research Questions Merger with CVS (CVS) Aug 20, 2008 01:24PM

In a 13D filing on Longs Drug Stores (NYSE: LDG), Advisory Research disclosed a 9.2% stake (3,304,287 shares) in the company and raised questions about the pending merger with CVS Caremark (NYSE: CVS). The firm is asking for additional information regarding the assets of the Company, specifically with respect to the valuation of the real estate owned and leased by the Company.

NOTE: It has also been reported that another large Longs Drug holder, Bill Ackman of Pershing Square Capital, has raised similar questions.

From the Filing:

"The Reporting Persons originally acquired the Common Stock for investment purposes in the ordinary course of business.

The Reporting Persons reviewed the proposed tender offer by Blue MergerSub Corp., an indirect wholly owned subsidiary of CVS Caremark Corporation ("CVS Caremark"), to purchase all outstanding shares of Common Stock of the Company (the "Offer").

To evaluate the Offering, the Reporting Persons asked the Company ...


Keeley Asset Management Corp. Announces Minority Investment From TA Associates and Employee Equity Participation Plan Jul 23, 2008 03:00PM

CHICAGO, July 23 /PRNewswire/ -- Keeley Asset Management Corp., a leading mutual fund and investment advisory firm, and its sister company Keeley Investment Corp. announced a minority investment from Boston based TA Associates, one of the oldest and largest private equity firms in the U.S. with a long history of investing in asset management firms. The Keeley family will remain the majority owners and are committed to maintaining the firm's corporate culture focusing on investment performance and client service. Furthermore, Keeley also announced a plan to provide for equity incentives for its key investment and operational personnel. Founded by John L. Keeley, Jr. in 1982, Keeley Asset Management manages equity for corporations, pension plans, foundations, endowments and individuals, using a bottom-up value-based investment approach that focuses on small to mid-cap companies undergoing internal corporate restructuring. In addition, Keeley Investment Corporation is a registered broker-dealer which underwrites and distributes ...




Jul 22, 2008 08:00AM TA Associates Completes Minority Recapitalization Of Keeley Asset Management Corp.