(Reuters) - Plastics maker Berry Global Group Inc ruled out further sweetening of its 3.34 billion pound bid for British packaging company RPC Group, calling the offer final. RPC Group agreed to the higher takeover offer of 793 pence per share in cash in early March, ditching a lower bid from private equity firm Apollo Global Management LLC. Berry's comments come after analysts said the market was hoping for a higher offer. Berry said on Friday it reserves the right to increase the offer if another party comes with an offer or a possible offer for RPC. A source with knowledge of the matter had told Reuters in January that Apollo would not sweeten its 782 pence per share offer. Berry said it had made good progress on the deal, adding that all regulatory filings had been submitted to the relevant authorities. It expects the deal to close early in the third quarter of 2019. U.S. activist hedge fund Elliott Capital raised its stake in RPC to 7.9 percent, a day after it disclosed a 5.6 … [Read more...] about Plastics maker Berry says not to raise offer for RPC
Raise capital for hedge fund
Exclusive: Hedge fund prepares proxy fight to oust board at embattled PG&E
By Svea Herbst-Bayliss and Mike Spector NEW YORK (Reuters) - PG&E Corp shareholder Blue Mountain Capital Management LLC is preparing to launch a proxy fight to oust the embattled California utility owner's board, arguing that the company is harming investors with its plan to seek bankruptcy protection in the wake of catastrophic wildfires. The hedge fund, which owns about 11 million PG&E shares, is trying to rally support from other shareholders to replace all 10 board members at this year's annual meeting expected in May, according to a letter reviewed by Reuters. "We expect to announce the New Slate no later than February 21, 2019," the New York-based firm, which invests $19 billion (15 billion pounds), wrote in the letter to shareholders which is expected to be delivered on Thursday. "In order to rebuild essential relationships and restore trust, the Company needs an entirely new board," the letter said. This is the second time the hedge fund … [Read more...] about Exclusive: Hedge fund prepares proxy fight to oust board at embattled PG&E
£7bn hedge fund boss claims no deal Brexit is ‘fantasy mis-sold by free market fanatics’
PUBLISHED: 15:19 16 January 2019 Jessica Hill Richard Croft, mSeven real estate Archant In an angry tirade, Richard Croft, who heads up a hedge fund worth more than £7bn, told this newspaper he believes Liam Fox, the International Trade Secretary, is “one of the most inept human beings on the planet”. Liam Fox, Secretary of State for International TradeRichard Croft, an ardent remainer who is chief executive of M7 Real Estate, also warns that the impact Brexit will have on businesses in Suffolk is “much worse than we think” and admits he’s “livid” about the way the UK’s departure from the EU is being handled.Mr Croft believes that his home county of Suffolk will be particularly badly affected, because it is a major producer of sugar.British Sugar, which has a plant in Bury Saint Edmunds, makes its Silver Spoon brand of white sugar from sugar beet grown in our region. “We are a predominantly … [Read more...] about £7bn hedge fund boss claims no deal Brexit is ‘fantasy mis-sold by free market fanatics’
Oil drop hits hedge funds and threatens shale producers
By Phil Flynn Published December 13, 2018 Opinion FOXBusiness Facebook Twitter Comments Print video US oil producers concerned about Trump's tweets? PRICE Futures Group’s Phil Flynn on the outlook for oil prices. These are the best of times and the worst of times for U.S. energy producers. While U.S. oil production is breaking records, the recent unraveling of global oil prices threatens to break some U.S. energy producers and oil’s big money investors. Continue Reading Below Now you would think that with near record demand in the U.S. and record crude imports into China, U.S. shale producers would be printing money. Yet the realty is a bit more complex and it has the potential to derail the progress of America’s energy revolution. Part of the problem is that the price of oil is out of step with traditional market fundamentals. Oil got hit after President Donald Trump backtracked on his hardline ban of all Iranian oil … [Read more...] about Oil drop hits hedge funds and threatens shale producers
Behind Trump’s tabloid king, a connected and flush hedge fund
Gerry Smith, Katherine Burton, Shahien Nasiripour and Allison McNeely, Bloomberg Published 9:08 am PDT, Thursday, August 30, 2018 David Pecker, America's tabloid king, owes a lot to his old friend Donald Trump. But when Pecker arrived at the White House in July 2017 for dinner with the president, he owed even more to the financier that accompanied him: Anthony Melchiorre. Pecker, chairman of American Media Inc., has since been drawn into a Trumpian drama worthy of the National Enquirer, his flagship supermarket tabloid. He has emerged as a key witness in the months-long investigation into payments to two women who said they had affairs with Trump. Melchiorre, by contrast, has remained all but invisible -- which is precisely how he tends to operate. Recommended Video: Now Playing: Chelsea Clinton is coming to Malia Obama’s defense amid what appears to be a false report in Globe Magazine, claiming the 19-year-old has been questioned in an FBI probe. … [Read more...] about Behind Trump’s tabloid king, a connected and flush hedge fund