Shares of Madison Square Garden after higher after the CEO of activist investor Blue Harbour Group, Clifton Robbins, told Bloomberg in an interview, “We think Madison Square Garden is on a path to create and unlock significant shareholder value. We think the shares are worth about $400 a share today.” Blue Harbour, which owns a 4% stake in MSG, has been pushing the company to explore ways to improve its performance, including selling a stake in its pro-sports franchises before taking them public, Scott Deveau of Bloomberg points out. Blue Harbor estimates the Knicks and Rangers are worth as much as $7.2B alone, or about 10% higher than the market value of MSG as a whole, Deveau adds. Shares of Madison Square Garden are up 1% to $274.26 in morning trading.