Friday, 27 March 2015
Last updated 3 hours ago
Mar 10 2011 | 11:44am ET
In the battle between hedge funds Icahn Enterprises and Seneca Capital over the future of power company Dynegy, round two goes to the former.
Dynegy yesterday said it had added four directors to its interim board in the wake of Icahn's failed bid for the company. Two of the four were proffered by Icahn, while just one was nominated by Seneca.
Seneca, with a 12% stake Dynegy's second-largest shareholder after Icahn, had also demanded two seats.
Dynegy's board and top executives resigned last month after shareholders resoundingly rejected Icahn's $665 million bid for the company, urged on by Seneca. The two hedge funds had previously collaborated in sinking an earlier bid by the Blackstone Group.
Icahn's representatives on the interim board, which is charged with seeking out new executives and directors for the company are Vincent Intrieri and Samuel Merksamer. Seneca will be represented by E. Hunter Harrison. The fourth new board member is Thomas Elward, an independent director.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…