BofA update shows where active managers are putting money
Investing.com -- Activist investor Carronade Capital Management is pushing for Viasat to separate its broadband and defense businesses, according to a Financial Times report published Thursday.
Carronade, which owns a 2.3% stake in the satellite communications company, plans to release an open letter to shareholders advocating for the defense unit to be spun off. The investment firm claims this move could unlock up to $11 billion in value for both businesses.
The activist investor estimates that Viasat’s total valuation could increase by more than 500% if the defense unit becomes a standalone entity.
According to the Financial Times, Carronade is actively increasing its position in Viasat and currently holds $30 million of the company’s debt in addition to its equity stake.
Neither Carronade Capital Management nor Viasat provided immediate responses when asked for comment on the matter.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.