Friday, 25 July 2014
Last updated 6 hours ago
Apr 1 2008 | 10:31am ET
An American activist hedge fund that played a role in the ouster of the CEO of Deutsche Börse more than two years ago is set to take a more active role in the German stock exchange.
New York-based Atticus Capital, which has an 11% stake in Deutsche Börse, has won an early-termination notice from U.S. regulators, which frees it to become involved in mergers, tender offers and other acquisition transactions, as well as have a seat on the exchange’s supervisory board, Financial News reports.
The hedge fund has also moved its Deutsche Börse stake into a side-pocket, seeking to protect it and give it more credibility as a shareholder.
Atticus, which manages some $18 billion, has an 8% voting stake in Deutsche Börse, with the balance of its investment in derivatives.
The firm in 2005 backed fellow hedge fund The Children’s Investment Fund in opposing Deutsche Börse’s plan to buy the London Stock Exchange, helping to sink the proposal and force out then-CEO Werner Seifert. TCI has reportedly maintained its stake in Deutsche Börse.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…