Monday, 22 September 2014
Last updated 2 days 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.