Sunday, 21 September 2014
Last updated 1 day ago
Sep 25 2012 | 11:55am ET
Activist hedge fund Mason Capital Management has unveiled its Plan B in its battle with Telus Corp.
The New York-based firm has filed a dissident proxy circular asking Telus shareholders to reject the Canadian telecommunications company's plan to consolidate its share classes. Mason, which owns 19% of Telus' voting shares, objects to the plan, which would merge voting and non-voting shares on a one-for-one basis, with no premium offered to the former.
Mason's move comes after a British Columbia court blocked its bid to hold a meeting of voting shareholders. The hedge fund is appealing the decision.
Mason shareholders are to vote on the proposals on Oct. 17.
"Telus' actions stand to set a very dangerous precedent in corporate Canada," Mason's Michael Martino 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…
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