Wednesday, 6 May 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…