Saturday, 4 July 2015
Last updated 17 hours ago
Jan 18 2008 | 8:18am ET
Ramius Capital Group, a New York-based activist hedge fund, may need to get itself a pair of cowboy boots and a 10-gallon hat.
Just days after losing a proxy battle for representation on the board of Houston-based cafeteria concern Luby’s Inc., the hedge fund revealed an interest in another Texas company, Fort Worth-based auto finance company AmeriCredit Corp.
In a filing Thursday, Ramius said it has taken a 1.75% stake in AmeriCredit. More significantly, it said it is a “member of a 13-D group” which owns more than 10% of the company. The hedge fund did not identify the other investors who are part of the group.
Ramius built up its AmeriCredit stake last Friday and Monday, buying 2 million shares for $23.6 million.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…