Saturday, 20 September 2014
Last updated 20 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.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.