D.E. Shaw & Co. has built a significant stake in Verisk Analytics and is calling on the company to make changes, including selling off non-core businesses which it believes can create $20B in shareholder value, Scott Deveau of Bloomberg reports. Shaw, in a letter to the company’s board that was viewed by Bloomberg, also advocated for more independent directors on the board and operational improvements. “The company has underperformed for a decade because of operational missteps, poor capital allocation, a misguided diversification strategy, and lack of sufficient oversight,” D.E. Shaw managing directors Edwin Jager and Michael O’Mary said in the letter. Shares of Verisk Analytics are up 2% to $199.29 following the report.
previous post