Acxiom Corporation (NYSE:ACXM) shares moved up marginally after MMI Investments announced that they would withdraw their opposition to the company's proposed merger at $27.10 per share. The change of heart comes amid an increasingly difficult credit market that has clearly caused concern that there would be a buyout at all as the share price is trading at only $22.62 per share.

Shareholders are clearly concerned that tightening credit markets may make it too difficult for the acquiring company to obtain necessary financing to complete the deal. This concern is so great that the stock is actually trading well below the buyout price, which causes increased concern that the buyout offer itself is the only thing keeping the company afloat.

MMI Investments was quick to note, however, that it reserved the right to nominate its own candidates to the company's board of directors in the event that a merger agreement is not consummated between the two companies. Shareholders are hoping that the activist hedge fund will be able to effect change in the struggling company before it is too late. Combined, these factors make ACXM a stock worth watching!

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Vitesse Semiconductor (OTC:VTSS) shares fell over eight percent today after Chapman Capital disclosed an 8.3 percent stake in the company and disclosed an e-mail sent to the company inquiring as to the impact of a recent court ruling against the company's financial auditor for negligence as it could equate to future risks. The series of communications also showed a shocking disregard for shareholders by the chief financial officer of the company.

The series of communications, found in the company's recent Schedule 13D/A filing, outlined a simple request by Chapman Capital for the company to make a five minute phone call to inquire about the potential impact of these rulings. This is an important matter since the financial statements the firm is drafting are necessary for the next annual meeting. The CFO not only refused to call the company but also turned down the hiring, by Chapman, of a personal assistant to assist the chief financial officer in completing his obligations to shareholders!

This is only the latest in a series of problems facing the company. Chapman Capital has been fighting the company recently to hold its annual meeting so that it can nominate its own slate of directors to effect change. The activist hedge fund believes that the company is using its failure to provide audited financial statements to the SEC as an excuse to not hold a meeting. Essentially, they are holding shareholders hostage by failing to provide financial statements to those same owners!

Shareholders are hoping that Chapman Capital will be able to nominate its own members to the company's board of directors as it could mean significant changes. Vitesse has already dropped from a high of over $3/share in 2006 to its current levels just above $1/share. Clearly, change is needed. This makes VTSS a stock worth watching!

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Charter Communications (NYSE:CHTR) shares spiked late yesterday before returning to previous levels after billionaire investor Paul Allen disclosed in a Schedule 13D/A filing that he may pursue a recapitalization, restructuring or possible going private transaction. Shareholders are hoping that he can effect some change given the company's stagnant share price.

Paul Allen owns a majority stake in the company through Class B shares that hold greater voting rights than regular shares. There has been much speculation that Charter may become a takeover target given the fact that it has over five and a half million subscribers and is one of the only traditional cable companies that remains open to a sale. However, the CEO continues to insist that the company is on the buying end not the selling end.

There are a lot of rumors going around as to Paul Allen's plans for the company. Some suggest that he will recapitalize the company and provide a dividend to shareholders while others insist that he is intent on buying the company outright. Regardless, any measures to improve shareholder value is a welcome change for Charter shareholders. This makes CHTR a stock worth watching!

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