Saturday, 25 October 2014
Last updated 15 hours ago
Jun 27 2013 | 1:03pm ET
Tim Hortons is a Canadian institution, but two U.S. hedge funds aren't impressed.
Scout Capital has joined Highfields Capital Management in pushing for change at the coffee-and-donut chain. New York-based Scout this week asked the company to take on more debt to fund a share buyback.
Scout said that the move could double Tim Hortons' share price over the next few years. The hedge fund wants the company to buy back some 23% of outstanding shares.
Highfields, which launched its campaign earlier this year, wants Tim Hortons to be even more aggressive, calling for it to buy back 37% of its shares.
Scout holds a 5.5% stake in Tim Hortons; Highfields 4%.
Scout also echoed Highfields in calling on Tim Hortons to cease its expansion into the U.S.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.