Tuesday, 30 September 2014
Last updated 23 min ago
Nov 30 2007 | 11:43am ET
Just months after making peace with one activist hedge fund, famed security provider Brink’s Company is facing hostile fire from another.
Millbrook Capital, which like fellow activist hedge fund Pirate Capital wants to see Brink’s split up in an effort to unlock value, is poised to unveil its slate of candidates for the company’s board today. According to The New York Times, Millbrook plans to nominate its own founder, John Dyson, as well as former Brink’s Home Security CEO Peter Michel, Investigative Management Group CEO Robert Strang and Chase Manhattan M&A veteran Carroll Wetzel, for the Brink’s board. If all four are successful, it would spell the end of Brink’s chairman and CEO Michael Dan’s tenure in the former post.
Millbrook and Pirate Capital—whose founder, Thomas Hudson, was given a seat on the company’s board in February—have called for the separation of the company’s armored truck and security provider divisions. But while Hudson has repeatedly slammed Dan, and called for splitting the chairman and CEO posts, Millbrook, which is the company’s second-largest shareholder, has taken a more conciliatory approach, criticizing the company’s other board members for lacking experience, and promising to support a new board seat for Dan should he lose to one of its nominees.
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...