Covidien plc (NYSE:COV), DIRECTV (NASDAQ:DTV), TRW Automotive Holdings Corp. (NYSE:TRW) are the top three investment bets of Alpine Associates, as per its recent SEC 13F filing. The investment manager has its primary investments in service, technology, and basic material industry.
Covidien plc (NYSE:COV) is the largest stock investment of Alpine Associates with 2,388,600 shares of the company at an estimated market value of $206 million. In the latest series of events Medtronic, Inc. (NYSE:MDT) has acquired Covidien plc (NYSE:COV) for $42.9 billion. Both Covidien plc (NYSE:COV) and Medtronic, Inc. (NYSE:MDT) will combine to form Medtronic Plc and these companies would act as its subsidiaries. The overall cash-and-stock transaction would amount to $49.9 billion and every current shareholders of Covidien plc would receive $35.19 in cash along with 0.956 ordinary share of Medtronic Plc for every single Covidien share.
Alpine Associates has its second largest stock investment in DIRECTV (NASDAQ:DTV) with 2,278,400 shares of the company at an estimated market value of $197 million. DIRECTV (NASDAQ:DTV) has launched a Severe Weather Mix Channel for the coverage of winter storm likely to affect Northeastern United States. The channel would show news from six different channels on a single screen and any of these screens would be accessible with remote buttons. Some of the primary investors of DIRECTV (NASDAQ:DTV) include Berkshire Hathaway, Highfields Capital Management, and Pentwater Capital Management.
TRW Automotive Holdings Corp. (NYSE:TRW) is the third largest stock holding of Alpine Associates as it holds 1,561,600 shares of the company at an estimated market value of $158 million. TRW Automotive Holdings Corp. (NYSE:TRW) reported net sales of $4.2 billion in its third quarter 2014 financial results and net GAAP earnings of $189 million. Some of the primary investors of the company include Pentwater Capital Management, Pzena Investment Management, and Gmt Capital. The shares of TRW Automotive Holdings Corp. (NYSE:TRW) are trading at $103.00 with current P/E ratio of 12.02.
This article has been written by Prakash Pandey.
