BRIEF-Ride-Sharing service Lyft latest to remove Youtube ads - NYT
* Ride-Sharing service Lyft latest to remove Youtube ads after they appeared next to offensive videos - NYT Source: http://nyti.ms/2n0nMw4
(Adds details and quotes from interview, Sotheby's, background)
By Michael Flaherty
Oct 6 Activist investor Richard McGuire said on Thursday that crane maker Terex Corp has room to slash costs and sell assets, in his first public statement about his plans for the company.
McGuire, whose Marcato Capital Management owns a 5.1 percent stake in Terex, told CNBC in an interview that the company could "sell businesses that are not at scale to allow attractive returns on capital."
He did not identify specific divisions that Terex, which also makes other heavy machinery, that could be put up for sale.
McGuire also discussed Buffalo Wild Wings, the restaurant chain that Marcato owns a 5.2 percent stake in. Marcato has urged the company to shake up its board and to shift toward a more highly franchised business model instead of buying out franchisees and opening more restaurants.
McGuire said in the interview that Buffalo Wild Wings' management had not been as receptive to Marcato's plans "as we would like" and repeated his view that the company's shares could triple over a four-year span.
Citing another Marcato investment, he said "Sotheby's is doing all that we want to see" being done by the auction house.
Sotheby's plans to buy $73.8 million of stock from Marcato at $36 a share, helping the fund cut its stake in the auctioneer by roughly half to 4.9 percent, regulatory filings on Tuesday showed.
McGuire said Marcato sold the shares to rebalance its portfolio of investments. (Reporting by Michael Flaherty; Editing by James Dalgleish and Richard Chang)
MELBOURNE, March 24 London copper was on Friday set to drop more than 2 percent for the week, with striking union members agreeing to return to work at the world's top copper mine, in Chile.