Monday, 4 May 2015
Last updated 5 hours ago
Apr 3 2009 | 1:01am ET
The long-running battle between The Children’s Investment Fund and Deutsche Börse appears to be over.
The London-based activist hedge fund has slashed its stake in the German stock exchange operator to just 0.96%, down from more than 10%. TCI’s move follows a similar sell-off by its former partner against Deutsche Börse, Atticus Capital, which cut its stake to less than 3% earlier this week.
The two hedge funds announced on Monday that they were ending their “acting in concert” agreement on matters concerning Deutsche Börse. The two joined forces in September, after the Deutsche Börse’s shares lost more than half of their value. The pair, which collectively owned 19.3% of Deutsche Börse, threatened to seek “to change some members of the supervisory board in order to ensure leadership and urgency regarding any appropriate options.”
It was no idle threat: Atticus backed TCI’s succesful 2005 effort to derail Deutsche Börse’s proposed acquisition of the London Stock Exchange and to force out the firm’s then-CEO, Werner Seifert.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…