Friday, 22 August 2014
Last updated 12 hours 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 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note