Steel Partners Ousts Board of Aderans

May 29th, 2008
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U.S. activist hedge fund Steel Partners has helped block the re-election of the board of Japanese wig-maker Aderans Holdings. This is the first time that Japanese management has been shaken up due to an activist fund and could encourage other Japanese firms to pay more attention to shareholders. Steel Partners, run by Warren Lichtenstein, already has significant control of some US firms and have been moving towards the Japanese markets since 2004. In addition to Aderans, Steel Partners have also been active in Sapporo Holdings, Ezaki Glico, Shofu Inc and House Foods Corp. Aderans Holdings shares closed up 8.7%.
For Detailed Investor Profiles on these Investors, click below:
Steel Partners
Related People: Joshua Schechter; Lawrence Butler; Warren G. Lichtenstein
Related Entities: Steel Partners; Steel Partners II Master Fund LP; Steel Partners Japan Strategic Fund; Steel Partners LLC; WebFinancial LP

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