Thursday, 2 October 2014
Last updated 55 min ago
Jun 18 2013 | 10:30am ET
Smithfield Foods' takeover by China's Shuanghui International Holdings has a new opponent.
The $4.7 billion deal—the largest-ever takeover of a U.S. company by a Chinese company—has already raised concerns from politicians. Now, it's earned the ire of activist hedge fund Starboard Value, which wants to see Smithfield split up, rather than sold.
Starboard said the company should be split into three companies, a move it said would make it worth as much as $21 per share more than Shuanghui has offered. In a letter to Smithfield, Starboard criticized the company for not seeking bidders for its parts, saying it sees suitors for them.
Starboard's plan would break the pork-production giant into pork production, hog farming and international sales companies.
Smithfield said it would review Starboard's letter. Starboard owns 5.7% of the company.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...