Sunday, 21 December 2014
Last updated 4 hours ago
Oct 10 2007 | 7:08am ET
A group of hedge funds led by Barington Capital Group has struck a deal with consumer products company Lancaster Colony Corp., dropping a plan to nominate director candidates in exchange for concessions from management.
Under the deal, Columbus, Ohio-based Lancaster Colony has agreed to name an independent director acceptable to Barington, form a task force to “work on improving its operations, productivity and profitability,” as well as to consider “strategic alternatives” for its nonfood businesses, and establish a repurchase program and “corporate governance initiatives.” In return, the Barington group has withdrawn its three board nominees.
In June, Barington CEO James Mitaronda, whose firm owns 5.6% of Lancaster Colony, savaged the company’s CEO, John Gerlach, accusing him of running the company like a “private, family-owned business,” and calling on the board of directors to rein him in.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.