Second Hedge Fund Pushes For Seats On Brink’s Board

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.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note