Hess Corp. (NYSE:HES) and Elliott Management finally peace-out on a four month long proxy fight. Today just before the annual shareholder meeting, both parties agreed on a deal that allows three of the five Elliott nominees to the board of directors and in exchange Elliott will not contest the five board members that Hess Corp. (NYSE:HES) nominates, Bloomberg reports. Apparently somebody dumped their big stake in Hess Corp. (NYSE:HES) as soon as the news of the deal broke, as shares fell as much as 4 percent . There are a string of hedge funds, including several big names, that bought Hess in the…
On This Page
This content is exclusively for paying members of Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe now and get 7 days free!
