Sunday, 21 September 2014
Last updated 1 day ago
Sep 20 2013 | 12:17pm ET
After months of trying to find a better offer for Smithfield Foods, Starboard Value is giving up and getting on board with the pork-producer's $4.7 billion deal with China's Shuanghui International Holdings.
The hedge fund said today it would vote in favor of the Shuanghui deal, removing the last hurdle in the way of its approval. Starboard said it still had "indications of interest" from potential buyers and that it was confident that another offer would have been richer than Shuanghui's, it has decided that the restrictions written into the current deal, among other obstacles, had pushed it into the "yes" camp.
"At this time, unless another proposal emerges, we plan on voting in favor of the proposed merger," Starboard said.
Earlier this month, Starboard had urged its fellow investors to vote against the Shuanghui deal on Sept. 24 in hopes that a better offer would materialize. Few if any appear to have done so; early voting has been overwhelmingly in favor of the deal.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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