Tuesday, 1 December 2015
Last updated 17 hours ago
Sep 16 2013 | 11:11am ET
Elliott Management tendered enough of its Kabel Deutschland shares to ensure that Vodafone's bid for the cable company succeeded. Now, it plans to use its remaining shares to force Vodafone to pay up.
Elliott, Davidson Kempner Capital Management and York Capital Management plan to sue Vodafone to force the telecommunications giant to pay more for the shares they still own. Elliott is Kabel Deutschland's largest shareholder other than Vodafone with a 10.9% remaining stake, Reuters reports, while Davidson Kempner owns 3.4%.
Under German law, shareholders can ask a court to mandate a higher price for the 23.52%, a tactic Elliott employed with crane-maker Terex's purchase of Germany's Demag two years ago, a case that is still pending. The hedge fund has not said how much it will seek from Vodafone, only that the company's original offer was insufficient.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…