Entries tagged "Steel Partners"
Billionaire investor Carl Icahn is known for his ability to yield a mighty pen in his biting, vitriolic and oftentimes comedic letters to the boards and management that he has mounted proxy fights against through the years. So, what's the deal with the plain vanilla, boilerplate letter that he sent to Steel Partners LLC's shareholders on Friday in an attempt to inspire them to join his cause against the hedge fund that has decided to go public in lieu of paying out redemptions to investors? ...
As the three publicly traded U.S. hedge funds, Och-Ziff Capital Management Group LLC, GLG Partners Inc. and Fortress Investment Group LLC, have been battered by Wall Street over the past year, it makes you scratch your head as to why Steel Partners LLC is volunteering for the same possible punishment as it plans to take its $1.2 billion Steel Partners II LP fund public via a reverse merger with WebFinancial LP. ...
Activist fund manager Steel Partners Ltd. on Tuesday urged Japanese brewer Sapporo Holdings Ltd. to hire an investment bank to explore a sale or breakup. ...
The activist fund, managed by Warren Lichtenstein, on Friday settled a pending proxy contest with EnPro Industries Inc. Lichtenstein agreed to call off his contest after EnPro agreed to expand its board size to nine members from eight and add Lichtenstein's nominee Don DeFosset, the former chief executive of Walter Industries Inc. (A number of activist investors, including Pirate Capital, sought to have Walter broken up in 2005. Steel held a large Walter stake at the time.)...
Oil executives have flocked to New Orleans this week for the famed Howard Weil Energy Conference, and there's lots of deal talk going on in between trips to Bourbon Street. One executive who is likely too busy for Bourbon Street, however, is Danny McNease, CEO of oil equipment and services provider Rowan Cos. ...
After GenCorp Inc. took fire from activist investor Steel Partners for five years, the midcap rocket maker agreed to settle with the insurgents. ...
