Wednesday, 1 October 2014
Last updated 14 min ago
Jun 9 2014 | 11:23am ET
Carl Icahn has taken another big stake in a target company—and that target company has moved to ensure it gets no bigger.
Icahn announced that his firm has taken a 9.4% stake in Family Dollar Stores, with plans to urge the company to consider strategic options, he said in a Friday regulatory filing. Icahn joins two major hedge funds with big interests in Family Dollar: fellow activist Trian Fund Management, which owns 7.4%, and Paulson & Co., which owns a 5.7% stake.
Family Dollar said Friday that it is “open to dialogue with all shareholders and welcomes input toward the shared goal of enhancing value.” But the company quickly adopted a one-year poison pill limiting investors to a 10% stake.
The company said the poison pill was designed to give it “adequate time to consider any and all alternatives.”
Trian sought to buy Family Dollar three years ago, which resulted in a standstill agreement that expired last year.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...