GLG Partners Boosts Exposure to Yongye International (YONG)

Noam Gottesman’s GLG Partners LP has boosted its stake in Yongye International, Inc (NASDAQ:YONG) to 3.5 million shares from approximately 142,000 shares held at the end of 2013. The stake currently amounts to 6.93% of the company’s shares outstanding.

Yongye International, Inc. (NASDAQ:YONG) is an agricultural nutrient company. It is engaged in research, development, manufacturing and sales of fulvic acid based crop and animal nutrient products. The market cap of this China based company is around $330 million.

Early this month, the company announced that three leading independent proxy firms – Institutional Shareholder Services Inc., Glass Lewis & Co., LLC, and Egan-Jones Proxy Services – have advised the shareholders of Yongye International, Inc. to vote in favor of Full Alliance International Limited’s acquisition offer for $6.69 per share in cash.

Other stakeholders of Yongye International, Inc. include Matthew Halbower’s Pentwater Capital Management, which holds 4.0 million shares, followed by Glenhill Advisors, led by Glenn J. Krevlin, with ownership of 2.1 million shares.

GLG Partners LP is one of the largest alternative asset managers in the world. It delivers absolute return and long-only investment strategies across asset classes, sectors and geographies. Noam Gottesman founded the fund in 1995 as a division of the Lehman Brothers International; however, it broke off as a stand-alone entity in September 2000. The fund’s portfolio value amounts to $1.4 billion and it is headquartered in London.

Some of the largest investments of the fund as at the end of the fourth quarter of 2013 includes Facebook Inc. (NASDAQ:FB), in which GLG Partners owns approximately 743,800 shares worth $40.7 million. The fund also holds 536,000 shares of Discover Financial Services (NYSE:DFS), with a reported value of $43.7 million. The third largest stake of GLG Partners is in Apple Inc. (NASDAQ:AAPL), which amounts to 50,600 shares worth $28.39 million.

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