Sunday, 21 December 2014
Last updated 2 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.