Archived Activist/Hedge Fund News

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KDB is Looking to Buy a Global Bank

Date: August 25th, 2008
Korea Development Bank (KDB) has expressed interest in buying a global bank. Last Friday it said that it was `open to the acquisition of an overseas financial...

Harbinger increases stake in Cablevision to 8.1%

Date: August 25th, 2008
Harbinger Capital has increased its stake in Cablevision Systems Corp to 8.1%. The hedge fund is known for pressuring management into making changes to...

Swedish Activist Investor Cevian Labeled 'the Butcher'

Date: August 22nd, 2008
Cevian Capital is a Swedish activist hedge fund founded by Christer Gardell and Lars Forberg. Their usual strategy is to either win seats on the board...

Temasek May Increase Merrill Stake

Date: August 21st, 2008
Temasek, one of Singapore's sovereign wealth funds, is looking to increase its investment in Merrill Lynch. After its $5 billion initial investment in...

Benton Retiring, Andor Closing Down

Date: August 20th, 2008
Andor Capital Management will close this fall and return money to its investors. Andor is a hedge fund spun-off from Pequot Capital Management in 2001....

Turnberry Closing Shop

Date: August 17th, 2008
Turnberry Capital Management LP is set to shut its doors. The hedge fund specialized in distressed debt. They have already liquidated about 70% of the...

Pershing Want Longs to Hold Out for Higher Bid

Date: August 17th, 2008
Bill Ackman's Pershing Square Capital, which owns a 8.8% stake in Longs Drug Stores, thinks that the company should hold out for a higher offer from either...

Activists Find Bidders for Investment Companies on their Own

Date: August 16th, 2008
A new strategy for activist investors is to find buyers for the companies they have invested in, sometimes without the management's knowledge or consent....

Harbinger Acquires Stake in Cablevision

Date: August 15th, 2008
Harbinger Capital has acquired a 4.9% stake in Cablevision. Harbinger Capital has previously also held activist stakes in media companies such as the...

Plainfield Taking Activist Stance Against Riviera

Date: August 13th, 2008
Plainfield Asset Management indicated that it wants to take an activist approach against Riviera Holdings Corp in a recent SEC filing. Plainfield, which...

Icahn’s 2008 YTD Activism Summary

Date: August 12th, 2008
Mr. Carl Icahn has had a busy year of wins and losses. This month he has raised his stake in the biotechnology company Biogen Idec to 6.03%, stating that...

Elliot wants changes at New Zealand Telecom

Date: August 12th, 2008
Elliot International, a US-based hedge fund, has targeted New Zealand's largest fixed-line phone company, NZ Telecom. Elliot has nominated two candidates...

Enzon Pharma folds under pressure from shareholder activists

Date: August 11th, 2008
Today, Enzon Pharmaceuticals (ENZN) announced that it would give into shareholder activists' demands and try to sell all or parts of its commercial business,...

James Pallotta to spins off Tudor funds into Raptor Global

Date: August 11th, 2008
James Pallotta the vice chairman and managing director of Tudor Investment's will spin off Tudor's Raptor Global and Altar Rock Funds as well as a portion...

Fortress gives $300 million share grant to Adam Levinson

Date: August 10th, 2008
Fortress Investment Group has given a $300 million share grant to Adam Levinson, one of the company's star traders and Chief Investment Officer of the...

Gabelli Wants Break Up of Cablevision

Date: August 9th, 2008
Activist investor Mario Gabelli is calling for Cablevision and its founders, the Dolan family, to break up the company. Gabelli owns an 8.3% stake in...

Steel Partners wants to put Point Blank in Range

Date: August 8th, 2008
Steel Partners has sent a letter to Point Blank Solutions pressing for the company to stop postponing its annual meeting. The letter is the latest in...

Massachusetts State Pension Fund drops Bill Miller

Date: August 7th, 2008
The Massachusetts State Pension Fund pulled $2 billion from their investments in Legg Mason's Bill Miller and four other firms. The change was cited as...

Nationwide Mutual Insurance buys Nationwide Financial Services

Date: August 6th, 2008
Nationwide Mutual Insurance Company will acquire Nationwide Financial Services for $2.4 billion. Nationwide Financial Service provided its parent company...

Dow Kim cancels launch of Diamond Lake

Date: August 6th, 2008
Dow Kim, the former head of trading and investment banking, left Merrill Lynch to start Diamond Lake, a multi-strategy hedge fund. The fund would receive...

Bristol-Myers Squibb Co. makes unsolicited bid for ImClone

Date: August 5th, 2008
Bristol-Myers Squibb Co. made an unsolicited bid to buy ImClone Systems for $60/share or $4.5 billion. ImClone organized a committee to evaluate the...

Hedge funds adopting “operational activism” approach

Date: August 1st, 2008
Activist hedge funds commonly focus on seeking leveraged buyouts, boosting dividends or buying back shares. However the current market climate has made...

T. Boone Pickens sells off his Yahoo shares at a loss

Date: July 30th, 2008
T. Boone Pickens sold off the 10 million Yahoo shares that he bought in May at a loss. He claimed he got tired of waiting for Yahoo's board to revaluate...

Riley Investments wants Asyst Technology to sell itself

Date: July 30th, 2008
In July of 2008 activist hedge fund Riley Investment Management [RIM] entered into a proxy battle for seats on Asyst Technology's board. Riley owns...

Riley Investments settles proxy battle with Transmeta corp

Date: July 30th, 2008
In February of 2008, Riley Investment Management, an investment adviser, made an unsolicited offer to the Transmeta Corporation to buy all outstanding...


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