Tuesday, 13 October 2015
Last updated 9 hours ago
Jun 30 2008 | 2:32pm ET
After its unprecedented victory in a battle with a Japanese wig maker, U.S. activist hedge fund Steel Partners finally has a seat at the table.
The boardroom table, that is. Aderans Holdings named Joshua Schechter, a managing partner at New York-based Steel, to its board of directors, just over a month after Steel succeeded in ousting the company’s president and most of its board. Steel is Aderans’ largest shareholder, with a 26.7% stake.
Steel’s success stands in stark contrast to the failure of most activist hedge funds in Japan. Just last week, The Children’s Investment Fund suffered a devastating defeat in its battle with the country’s largest electric utility. Last year, Steel itself was condemned as an abusive acquirer in its battle with condiment maker Bull-Dog Sauce Co.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…