Wednesday, 17 September 2014
Last updated 6 hours ago
Aug 22 2012 | 1:52pm ET
SAC Capital Advisors isn't known as an activist hedge fund. But the industry giant is sharpening its claws for a fight with Clearwater Paper.
SAC, which owns 7.1% of Clearwater, is pushing the company to split in twain and sell one—or both—businesses. The hedge fund also wants Clearwater to add two members to its board of directors and to hire an investment bank to explore options.
The $14 billion hedge fund warned Clearwater in May that it was "deeply undervalued." Now, it's told the company how it wants it to fix the problems, according to a regulatory filing.
SAC wants Clearwater to "initiate the separation" of its consumer products and its pulp and paperboard businesses.
"Clearwater Paper has had an open dialogue with SAC and continues to carefully analyze its proposals," Matt Van Vleet, a Clearwater spokesman, said.
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…
The London Whale saga is a twist on the typical rogue trader story as the rogue trader recognized the error of his ways and was prepared to take his medicine but was instructed by superiors to “defe...