Tuesday, 2 June 2015
Last updated 1 hour ago
Sep 18 2012 | 12:19pm ET
Mason Capital Management is not giving up its fight against Telus Corp.'s planned share-consolidation plan.
The U.S. hedge fund has won the right to an expedited appeal of last week's Supreme Court of British Columbia ruling that blocks it from holding a meeting of the Canadian telecommunication company's shareholders in competition with a meeting planned by Telus itself. Mason, which owns 19% of Telus' voting shares, objects to the company's plan to impose a one-for-one exchange of non-voting shares for voting shares.
Mason has argued that the plan is unfair to voting share owners, including itself, who paid more for that privilege than non-voting share owners.
Mason's appeal will be heard on Oct. 4, just under two weeks before Telus shareholders are to vote on the company's plan.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…