Tuesday, 1 December 2015
Last updated 2 hours ago
Apr 12 2007 | 12:25pm ET
Under pressure from hedge fund The Children’s Investment Fund, Barclays and ABN Amro are scrambling to put a deal together to preempt TCI’s drive to break up the Dutch investment bank.
ABN is holding exclusive merger talks with Barclays, with the exclusivity period schedule to end on Wednesday. Both sides expect a slew of hostile bids after a deal is announced, but the real deadline is April 26. That’s when both banks hold their annual shareholder meetings, and ABN will face two resolutions, pushed by TCI, calling for it to be split up.
The exclusive talks with Barclays have further angered TCI, which has been highly critical of ABN’s share price performance.
According to published reports, full terms of any deal—assuming one is reached—may not be disclosed when it is announced. While both sides hope to make some sort of announcement on April 18, an agreement is reportedly far from completed.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…