Monday, 1 September 2014
Last updated 3 days ago
Jul 8 2008 | 9:15am ET
By Daniel Loeb’s standards, activist hedge fund Third Point’s regulatory filing on Maguire Properties was quite mild. But it cannot have made management at the Los Angeles-based real estate investment trust especially happy.
The New York-based hedge fund, which owns a 8.8% stake in Maguire, expressed its concern about a third party’s offer for Maguire falling by the wayside, and warning that it might not support the board if it does not act to maximize shareholder value.
“While a board of directors certainly has the right to determine whether it wants to sell the company it oversees, shareholders have the right to choose a board of directors whose interests are aligned with their own,” Third Point said in the filing.
Maguire has said it continues to consider strategic alternatives for the company, but has ruled out a sale in the current credit market.
Third Point said a third party had offered $20 per share, or about $960 million, for Maguire, but later withdrew the offer. The hedge fund said that offer could be converted into a “fully-financed, unconditional” offer if Maguire followed certain steps.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...