Mon, Apr 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Denali Investors sends a letter to Shaw Group demanding fair value over acquisition deal

Thursday, August 16, 2012

Bailey McCann, Opalesque New York: Activist hedge fund, Denali Investors has sent a letter to US-based nuclear power company The Shaw Group saying that the planned acquisition by US-based firm CB&I is not offering a fair value to shareholders. In it, Denali principal, H. Kevin Byun, argues that temporary, "optical" issues are placing false downward pressure on Shaw stock and that the Shaw board is leaving money on the table by not demanding a greater premium. The letter follows another sent to Shaw last year which implored Shaw CEO James M. Bernhard, Jr. to take a more robust approach to creating shareholder and company value.

In all, the CB&I acquisition will total approximately $3bn and create one of the nation's largest energy players. According to energy trade, Environment Analyst, the deal has been unanimously approved by boards at both companies and is expected to be complete by 2013. Under the terms of the deal, Shaw shareholders will receive approximately $46 per share, a figure which Denali argues is well below Shaw's potentia......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Hedge fund Ecofin says EDP bid for renewable energy unit 'egregiously low', Asia CIOs say "non" to Europe, Billionaire Mike Novogratz says he has 10% of his money in Bitcoin and Ether[more]

    Hedge fund Ecofin says EDP bid for renewable energy unit 'egregiously low' From Reuters.com: London hedge fund firm Ecofin said an offer from Portugal's largest company EDP to buy 22.47 percent of subsidiary EDP Renovaveis "significantly undervalues" the company, in a letter to EDPR's bo

  2. Alternative asset firm YieldStreet surpasses $100m of loans funded in less than 8 quarters[more]

    Komfie Manalo, Opalesque Asia: Alternative asset investment platform YieldStreet reported that it has surpassed $100m in loans funded in less than eight quarters from accredited investors and single family offices. YieldStreet was founded by Milind Mehere and Michael Weisz. In a

  3. Investing - Investor appetite for high-growth IPOs to be tested, Apollo boosts fund's stock allowance for 'diamonds in the rough', Hedge funds uncertain over outlook for Hargreaves Lansdown[more]

    Investor appetite for high-growth IPOs to be tested From FT.com: The US listings market is poised for a busy week with deals that will test investors' appetite for high-growth - but lossmaking - companies. Eight new listings are scheduled for this week, the most since October of 2016,

  4. Aris Wealth' quant indices fare well[more]

    Benedicte Gravrand, Opalesque Geneva: Last year, Geneva-based Aris Wealth Management launched indices sponsored by Societe Generale Corporate & Investment Banking. These indices replic

  5. Opalesque Exclusive: Gold Sail diversifies into PE and real estate[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The five Purdue University students who set up a hedge fund last year have become four and have diversified int