The U.K.’s vote to leave the European Union has shaken financial markets and raised alarms about the country’s economy, but it may have made Britain more attractive to activist investors.
David Neuhauser, managing director at Livermore Partners, discusses the market impact of the U.K.’s Brexit referendum on hedge funds and his firm’s call for changes at Entertainment One Ltd.
Valeant Pharmaceuticals International Inc. shares plunged in their worst day ever, falling as much as 49 percent after the company cut its 2016 forecast, reported a weak fourth quarter and said it risked breaching some of its debt agreements if it can’t file its annual report in time.
U.S. activist hedge fund Livermore Partners is calling on Canadian and UK media firm Entertainment One to slow down its pace of dealmaking and improve its cash flow, the fund’s top executive said.
Asset management firm Livermore Partners adds James Riddell of Paramount Resources to its advisory board. Paramount is a Canadian oil and gas company with an enterprise value of nearly $4 Billion dollars.
With a sinking oil price driving Canadian energy shares to decade lows, Livermore Partners are pushing hard for companies to look at mergers and acquisitions or asset sales to curb costs and help the funds reduce their own investment losses.