Monday, 29 December 2014
Last updated 31 min ago
Aug 30 2010 | 12:50pm ET
The Man Group and GLG Partners have amended their merger agreement to dispose of several lawsuits filed by smaller GLG shareholders.
Under the terms of the new agreement, the break-up fee owed by GLG to Man if the deal falls through has been cut to US$26 million from US$48 million, and the time period covered by the break-up agreement has been reduced from 12 months to nine.
Man is paying $1.6 billion in cash and shares for London-based GLG in a move that is expected to create the world’s largest hedge fund manager, with more than US$60 billion in assets under management.
Three shareholder lawsuits, two filed in New York and one in Delaware, the latter alleging that GLG shareholders were not getting a fair shake in the deal, will be dismissed.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.