Breakups seem to have become activists’ favorite tools when faced with an underperforming company. Following John Paulson’s pressure to Hartford to spin off its life business, Highfields Capital has disclosed it is in talks with Genworth Financial(GNW) with options that may include a spinoff of its mortgage insurance business. Highfields, a Boston-based hedge fund...
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In separate filings today, Dan Loeb, fresh off his successful fight for Yahoo(YHOO) board seats, revealed that he had increased his Sara Lee(SLE) stake, and John Paulson announced a new stake in the disappearing conglomerate. Sara Lee will be paying a special dividend of $3 per share and spinning off its coffee and tea...
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Hedge fund Paulson & Co, whose activist battle to force The Hartford(HIG) to split itself in two was met by a restructuring plan by the company, has filed a form 13G indicating that its investment is once again passive. Paulson had previously said that the company’s new plan did not go far enough. A...
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Whew! Time to exhale as the drama is finally over. Peyton Manning is signed, Tebow was traded and now Hartford Financial Services Group (HIG) will shed several business units in order to increase its focus on its profitable property & casualty business. While the group benefits and mutual fund businesses will also be retained,...
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What do you do when your letters and pleas get ignored? Turn them into a presentation of course because pictures and charts are just so much harder to ignore. That seems to be superstar hedge fund manager John Paulson’s approach for turning up the heat on Hartford Financial Services Group (HIG). After having no...
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