With the U.S. farm sector drowning in supplies that have depressed crop prices, the Ohio- based agribusiness said it was better off remaining a "standalone entity" than selling to the holding company run by former hedge fund manager Philip Falcone. HC2's takeover offers "represent an opportunistic attempt to acquire the company at a low point in the industry...
NEW YORK, May 18- Andersons Inc, an Ohio- based grain merchant set up about 70 years ago as a truck terminal, has rejected a $1 billion hostile takeover bid from HC2 Holdings Inc, a company run by former hedge fund manager Philip Falcone. It also has stakes in four ethanol plants which it manages in Michigan, Indiana, Ohio, and Iowa; leases and manages a fleet of more than...
May 18- U.S. grain handler Andersons Inc said it rejected a takeover bid from HC2 Holdings Inc for about $1 billion in cash, calling the bid "opportunistic." "We believe HC2's proposals ignore our value and prospects as a standalone entity and represent an opportunistic attempt to acquire the company at a low point in the industry cycle," Chairman Mike Anderson said...
Andersons on Wednesday rejected a $1 billion all-cash offer from HC2 Holdings, a company run by former hedge fund manager Philip Falcone.
**A media report suggested that China's GAC was considering making an offer for a majority stake in the Italian-American carmaker Fiat Chrysler Automobiles. **China's Midea Group said it offered to buy German industrial robot maker Kuka AG for 115 euros a share in cash to expand its know-how in robotics for general industry and logistics applications.
May 17- HC2 Holdings Inc, a company run by former hedge fund manager Philip Falcone, said on Tuesday it has made a bid to buy U.S. grain handler Andersons Inc for about $1 billion in cash. "As a public company, we like where we're at," CEO Patrick Bowe said in an interview. HC2's offer of $37 per share represents a 42 percent premium to Andersons' closing price on Tuesday.
Jefferies is backing a former senior SAC executive despite its own struggle with insider trading at an internal hedge fund.
The head of Harbinger Group had a miserable 2013 that culminated with him agreeing to an $18 million settlement with the SEC.
Federal regulators are suing hedge fund manager Philip Falcone and his firm, accusing him of civil fraud for using fund money to pay his taxes and favoring some fund customers at the expense of others.
The SEC is charging Philip Falcone & Harbinger Capital with securities fraud, reports CNBC's Tyler Mathisen.
CNBC's Kate Kelly reports on the details of Harbinger fund manager Philip Falcone's comments regarding a potential IPO and regulatory policies.
The wireless carrier ended its hosting agreement with start-up LightSquared, because regulators say it interferes with GPS navigation devices.
The FCC has blocked a plan by LightSquared to build a new wireless network. Discussing what a LightSquared failure could mean to billionaire hedge fund manager, Philip Falcone, with Greg Zuckerman, Wall Street Journal.
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