That's according to a just-filed notice to the U.S. Securities and Exchange Commission. Activist investor Harbinger Capital's sale of two blocks -- 1.5 million and 1.75 million -- took place yesterday and Tuesday, for between $12.30 and $12.55 a share, the document says.
I'm posting from my iPhone; will update later.
Showing posts with label Harbinger Capital. Show all posts
Showing posts with label Harbinger Capital. Show all posts
Thursday, April 22, 2010
Monday, December 28, 2009
Lawsuit says top investor Harbinger bid unfairly
The Wall Street Journal is now reporting: "An aggrieved suitor in a 2006 bid to buy an appliance firm alleges that Harbinger Capital Partners, a prominent hedge fund that won the takeover battle, received nonpublic information about the rival bid and accumulated a big stake before the deal talks were made public, according to a preliminary ruling in the Delaware Chancery Court."
Harbinger owns 18.4 million shares of the NYTCo., according to its most recent federal regulatory filing, on Dec. 3 -- a stake that it's recently been reducing. That was equal to about 13% of all shares, based on the last 10-K filed with the U.S. Securities and Exchange Commission.
In an earlier trimming of its holdings, Nov. 19, the NYT DealBook blog said Harbinger owned nearly 15% of all shares at the time. That was based on the 21 million it owned at that point, the November filing shows.
Today's WSJ story continues: "In a lawsuit alleging breach of contract and other claims related to its failed bid, Nacco Industries Inc. alleges that executives of takeover target Applica Inc. passed tips through a consultant working for Harbinger, a New York hedge fund run by Philip Falcone. Nacco sells Hamilton Beach-brand appliances."
Please post your replies in the comments section, below. To e-mail confidentially, write jimhopkins[at]gmail[dot-com]; see Tipsters Anonymous Policy in the rail, upper right.
Harbinger owns 18.4 million shares of the NYTCo., according to its most recent federal regulatory filing, on Dec. 3 -- a stake that it's recently been reducing. That was equal to about 13% of all shares, based on the last 10-K filed with the U.S. Securities and Exchange Commission.In an earlier trimming of its holdings, Nov. 19, the NYT DealBook blog said Harbinger owned nearly 15% of all shares at the time. That was based on the 21 million it owned at that point, the November filing shows.
Today's WSJ story continues: "In a lawsuit alleging breach of contract and other claims related to its failed bid, Nacco Industries Inc. alleges that executives of takeover target Applica Inc. passed tips through a consultant working for Harbinger, a New York hedge fund run by Philip Falcone. Nacco sells Hamilton Beach-brand appliances."
Please post your replies in the comments section, below. To e-mail confidentially, write jimhopkins[at]gmail[dot-com]; see Tipsters Anonymous Policy in the rail, upper right.
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