Phillip Goldstein, Andrew Dakos, and Steven Samuels‘ Bulldog Investors has sent another letter to the board of Hill International Inc (NYSE:HIL), expressing the hope that the company’s upcoming annual shareholders’ meeting, where nominated candidates will be elected, will be conducted fairly. The letter points out that Hill International lost a lawsuit last year in which an affiliate of Bulldog’s sued for the right to nominate candidates and present proposals at the company’s shareholders’ meeting. The letter claims that the company may have lost as much as $1 million in the legal battle. The letter also points to a couple of legal precedents which firmly state the company’s legal obligations to its shareholders.
Bulldog Investors sent a letter to Hill International in mid-February which questioned the board’s refusal to consider a generous buyout offer and called the company’s strategic plan a dismal failure. The fund owns 2.06 million shares of Hill International, down by 1,000 shares from the February 17 filing, while having shared voting power over another 1.87 million shares. Bulldog was one of 11 of the hedge funds tracked by Insider Monkey which were long the stock at the end of 2015. Bulldog’s position was the largest of those investors, with the second-most bullish fund manager being Peter Schliemann of Rutabaga Capital Management, with a $10.8 million position. Some other hedge funds and institutional investors that hold long positions contain Charles Paquelet’s Skylands Capital, Jim Simons’ Renaissance Technologies, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| BULLDOG INVESTORS | 2,063,331 | 1,865,500 | 2,063,331 | 1,865,500 | 3,928,831 | 7.60% |
| FULL VALUE PARTNERS | 716,946 | 0 | 716,946 | 0 | 716,946 | 1.39% |
| ANDREW DAKOS | 2,063,331 | 1,865,500 | 2,063,331 | 1,865,500 | 3,928,831 | 7.60% |
| PHILLIP GOLDSTEIN | 2,063,331 | 1,865,500 | 2,063,331 | 1,865,500 | 3,928,831 | 7.60% |
| STEVEN SAMUELS | 2,063,331 | 1,865,500 | 2,063,331 | 1,865,500 | 3,928,831 | 7.60% |
| CRESCENDO PARTNERS II | 2,549,374 | 0 | 2,549,374 | 0 | 2,549,374 | 4.9% |
| CRESCENDO INVESTMENTS II | 2,549,374 | 0 | 2,549,374 | 0 | 2,549,374 | 4.9% |
| CRESCENDO PARTNERS III | 164,058 | 0 | 164,058 | 0 | 164,058 | Less than 1% |
| CRESCENDO INVESTMENTS III | 164,058 | 0 | 164,058 | 0 | 164,058 | Less than 1% |
| CRESCENDO ADVISORS II | 2,713,432 | 0 | 2,713,432 | 0 | 2,713,432 | 5.2% |
| JAMARANT CAPITAL | 64,426 | 0 | 64,426 | 0 | 64,426 | Less than 1% |
| JAMARANT INVESTORS | 64,426 | 0 | 64,426 | 0 | 64,426 | Less than 1% |
| JAMARANT ADVISORS | 64,426 | 0 | 64,426 | 0 | 64,426 | Less than 1% |
| ERIC ROSENFELD | 2,741,929 | 0 | 2,741,929 | 0 | 2,741,929 | 5.3% |
| GREGORY R. MONAHAN | 13,000 | 64,426 | 13,000 | 64,426 | 77,426 | Less than 1% |
| DAVID SGRO | 15,500 | 64,426 | 15,500 | 64,426 | 79,926 | Less than 1% |
| PAUL EVANS | 0 | 0 | 0 | 0 | 0 | 0% |
| CHARLES GILLMAN | 0 | 0 | 0 | 0 | 0 | 0% |
| JOHN P. SCHAUERMAN | 15,183 | 0 | 15,183 | 0 | 15,183 | Less than 1% |
Follow Phillip Goldstein, Andrew Dakos, And Rajeev Das's Bulldog Investors
Page 1 of 32 – SEC Filing
(CUSIP Number)
| PHILLIP GOLSTEIN BULLDOG INVESTORS, LLC Park 80 West – Plaza Two 250 Pehle Ave., Suite 708 Saddle Brook, NJ 07663 (914) 747-5262 | ERIC ROSENFELD C/O CRESCENDO PARTNERS 777 Third Avenue, 37th Floor New York, NY 10017 (212) 319-7676 |
(Name, Address and Telephone Number of Person
