Vodafone accused of illegally witholding report on £6bn German takeover (Telegraph)
Vodafone Group Plc (ADR) (NASDAQ:VOD) has been accused of illegally withholding a report on its €7.7bn (£6bn) takeover of Kabel Deutschland as part of a “pattern of obstructing” efforts by shareholders to uncover the details of the deal. The allegation comes from Elliot, the $24bn hedge fund run by Paul Singer, which built up 13.5pc stake in Kabel Deutschland as bid rumours intensified last year. It is now trying to extract a premium for the shares compared with what Vodafone paid for the rest of the German cable operator.
Eaton Partners Hedge Fund Team Named “Best Third Party Marketing Firm” of the Year by Leading Hedge Fund Publication (DigitalJournal)
Eaton Partners is pleased to announce it has been named “Third Party Marketing Firm” of the year by HFMWeek, a leading hedge fund and asset management trade publication. HFMWeek’s panel of judges recognized Eaton’s growth over the last 12 months, its strong project management and distribution capabilities, and solid recommendations from influential industry players and former clients. In addition to raising the most capital in the firm’s history for hedge funds, Eaton recently hired four senior sales professionals to further build its distribution team and two professionals to the firm’s project management team. The additional hires were vital in expanding and supporting a number of new client projects.
Billionaire Spurned by Buffett Pursues Global Wi-Fi Network (BusinessWeek)
James âJayâ Monroe III isn’t in a rush. Dressed in blue jeans and a monogrammed white dress shirt, the investor sips ice water and pauses to greet Dakota, his Great Dane-blue heeler mix who bounds through the Union Pacific Freighthouse in downtown Denver. …It’s also made him a billionaire. He has a net worth of at least $3.2 billion, according to the Bloomberg Billionaires Index, and has never appeared on an international wealth ranking. Monroe, who tried and failed to get Warren Buffett to invest in Globalstar six years ago, said his adult children will be surprised to learn he’s amassed such a fortune.
The Latest Tiger Trend: Private Investments (InstitutionalInvestorsAlpha)
Tiger Management Corp. founder Julian Robertson Jr. is getting in on a trend started by some of his disciples in the hedge fund world: making private investments in small companies. Robertson founded his legendary hedge fund firm in 1980 but shuttered its hedge fund in 2000. Nowadays, Robertson’s firm mostly backs other hedge fund managers, particularly those with ties to his former hedge fund, but lately he’s been taking pages out of their playbooks for his own portfolio.
Detroit Inches Closer to Solvency as Pension Creditors Drop Objections (ai-CIO)
The last of Detroit’s major pension debt holders settled their objections to the city’s solvency plan in the eleventh hour, as the city made its final arguments to end bankruptcy. “The end really is in sight,” said Bruce Bennett, Detroit’s lead attorney. “This plan is very broadly consensual at this point and the city has settled with all the objectors and all the major economic players in the city of Detroit.” Investors including hedge fund managers Aurelius Capital Management and bond insurer Financial Guaranty Insurance Company were owed $1 billion by the retirement system. If the city’s plan is passed, the investors will be given $141 million in new notes.
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