Crown Castle (NYSE:CCI) isn't a small-time player in the wireless tower business, with a $27bn market cap. It now has an activist looking to unlock shareholder value. Convex Management now has a 4% stake in Crown Castle,owning 3.6mm shares worth $1bn. Corvex founder, Keith Meister, has been dubbed the Carl Icahn protege. Meister is an activist investor and was the right hand man to Icahn before founding Corvex in 2011.
Corvex has done some work on CCI and put out a letter that said shares are worth over $100 a share. Corvex also wants the company to boost its dividend to $4 a share. Corvex has also said,
"Our analysis suggests a change in capital allocation could result in Crown Castle's stock trading for in excess of $100.00 per share within a short time frame, and compounding further from there."