Thursday, 26 November 2015
Last updated 9 hours ago
Nov 12 2007 | 12:29pm ET
A Japanese court has rejected a British hedge fund manager’s bid to block a portfolio company’s bond issue, making activist managers 0-for-2 in court bids this year.
Silchester International Investors had sought to prevent Autobacs Seven, a Japanese auto parts retailer, from issuing 65 billion yen ($589 million) in convertible bonds, complaining it gave the company away for too little and could dilute its 4.6% stake. But the Tokyo District Court rejected its request, filed last week. In August, Steel Partners was also rebuffed in its effort to prevent a Japanese Worcestershire sauce maker from implementing a poison pill.
Autobacs said it would go ahead with the bond sale today.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…