Friday, 17 April 2015
Last updated 10 hours ago
Oct 30 2007 | 2:43pm ET
Engineering and construction concern Washington Group International has postponed a vote on its proposed takeover by URS Corp. to build support for the hedge fund-opposed bid.
URS’ $2.6 billion offer for Washington Group has been slammed by activist hedge funds for undervaluing the target. Greenlight Capital, which owns 10% of Boise, Idaho-based Washington, has said it will vote against the deal, while Purchase, N.Y.-based Shultze Asset Management had sued to preempt the deal. Shultze, which owns 3% of Washington, settled its lawsuit earlier this month, after Washington agreed to provide supplemental disclosures to shareholders.
Influential proxy adviser Institutional Shareholder Services has also inveighed against the bid, urging Washington shareholders to vote no.
Yesterday, Washington admitted that it did not receive enough support, and postponed the vote, set for today, until Nov. 9.
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…