Tuesday, 31 March 2015
Last updated 7 hours ago
Mar 7 2014 | 3:07am ET
Casablanca Capital has made its battle with Cliffs Natural Resources official.
The hedge fund yesterday formally nominated six director candidates to Cliffs’ board, including its own CEO, Douglas Taylor, and Lourenco Goncalves, its designated CEO candidate. If its entire slate succeeds, it would give Casablanca control of Cliffs’ board.
Casablanca wants Cliffs to spin off its international operations and to restructure its U.S. business as a master-limited partnership. The hedge fund owns a 5.2% stake in the mining company.
Cliffs’ annual meeting is on May 13.
In addition to Taylor and Goncalves, Casablanca has nominated former Goldman Sachs banker Rip Fisher, Stillwater Mining director Patrice Merrin, former Nucor Corp. executive Joseph Rutkowski and Studio Investimentos managing partner Gabriel Stoliar.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…