SAC Capital Tells Clearwater Paper To Split Its BusinessesVW Staff
Shareholder activism comes to the fore at Clearwater Paper Corp (NYSE:CLW), with a disclosure by Steven A Cohen’s hedge fund, SAC Capital, that it owned 1.64 million shares in the company, a 7.2% stake, and that:
“On August 16, 2012, a representative of SAC proposed to the Board that it: (i) initiate the separation of the Issuer’s Consumer Products business from its Pulp and Paperboard business, to enable the Issuer to pursue the divestiture of one or both businesses . . .
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