Wednesday, 25 November 2015
Last updated 6 min ago
Mar 15 2012 | 11:12am ET
Paulson & Co. is taking yet another tack in its battle to split Hartford Financial Services in twain.
The New York hedge fund has berated Hartford CEO Liam McGee and implored analysts covering the company to back its bid to split Hartford's life-insurance and property-casualty businesses. Now the firm, which owns 8.5% of the Hartford and which suffered its worst-ever year last year, says it will be satisfied with words.
"No one is saying do a spin-off today," Paulson founder John Paulson said in a presentation filed last week with the Securities and Exchange Commission. "We are saying announce a spin-off today and then take the next five or six quarters to close."
Paulson said such a move would "unlock significant value" if announced by April.
"We believe the combined valued would be approximately $31, a 62% increase," he wrote.
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…