The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 18 hours ago
Apr 24 2007 | 10:02am ET
Activist hedge fund Pirate Capital is making another sartorial statement in its battle with energy company Aquila.
Weeks after unveiling a t-shirt lambasting the deal, Pirate is now encouraging shareholders to wear a button to Aquila’s annual meeting on May 2, “to show their opposition to Aquila’s proposed transaction with Great Plains Energy.”
Just like the t-shirts, the buttons, featuring Aquila CEO Rick Green, are available on Pirate’s anti-Aquila Web site, www.badaquiladeal.com.
Pirate contends that the Aquila proposed sale to fellow utility Great Plains is a bad deal for shareholders.
Of course, Pirate isn’t counting on fashion statements alone to get its way: The firm and its funds, which control about 5% of Aquila, are also suing the company to block the deal.