TCI Launches J-Power Lobbying Effort

May 22 2008 | 2:00am ET

The Children’s Investment Fund is opening yet another front in its battle with Japan’s largest electric utility.

The London-based activist shop, which has apparently been stymied in its effort to double its stake in Electric Power Development Co. to 20%, now plans to push fellow shareholders to back its demands for bigger dividends and smaller cross-shareholdings. The hedge fund also plans to ask shareholders how they will vote at the June 26 annual meeting, to “expose serious conflict of interest of supplier and cross-shareholders.”

TCI’s proposed proxies for the meeting include seven items involving cross-shareholdings, dividends, share buy-backs and outside directors. The company, better known as J-Power, has rejected all of TCI’s demands thus far, and the Japanese government earlier this month stepped in to prevent the hedge fund from boosting its stake.


In Depth

Virtu Celebrates Another Year Without a Single Day of Losses

Feb 26 2015 | 9:05am ET

High-frequency trading firm Virtu Financial Inc. reported another year without a...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk: How To Get In Front Of The Problem

Feb 26 2015 | 9:53am ET

In considering the topic of risk in the hedge fund world, specifically, the oversight...

 

Editor's Note