Atticus Ends Deutsche Börse Redemption Limits

Apr 23 2009 | 8:20am ET

Its activist battle with Deutsche Börse over, hedge fund Atticus Capital is ending its redemption restrictions on a side-pocket that held its investments in the German stock exchange operator.

The hedge fund instituted the limitations a year ago, during which time Deutsche Börse shares lost more than half their value. But with Atticus’ decision to end its alliance with fellow hedge fund The Children’s Investment Fund last month, the firm has given clients access to all of their capital once again, the Financial Times reports.

The two hedge funds ended their “acting in concert” agreement at the end of March. 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.”

Atticus’ Deutsche Börse stake, once as high as 9%, is down to about 2% as of the firm's March 31 filing.


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