Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Fund News: Michael Vranos, ValueAct Capital, Elliott Management

Vranos’s Ellington Hires Stohr to Bolster Distressed-Debt Team (Bloomberg)
Michael Vranos’s hedge fund Ellington Management Group has hired former GoldenTree Asset Management money manager Dale Stohr to boost its credit team. Stohr joined the hedge fund this week on the credit team, according to Mark Heron, the head of distressed debt at Ellington. Stohr led the U.S. distressed-debt team at Royal Bank of Scotland Group Plc before joining GoldenTree in 2014, where his role also included research.


ValueAct to Pay Record $11 Million to Settle Antitrust Lawsuit (The Wall Street Journal)
ValueAct Capital Management LP agreed to pay a record $11 million fine to settle a Justice Department lawsuit over the activist hedge fund’s disclosure of two investments. The settlement, announced by the government Tuesday, comes three months after it accused ValueAct of failing to seek antitrust clearance for its purchases of about $2.5 billion in shares of Baker Hughes Inc. and Halliburton Co. in 2014. The oil-field-services providers had announced plans to merge before the government blocked the move on antitrust grounds. The lawsuit sought as much as $19 million, based on the maximum fine of $16,000 a day. That ceiling is set to go up to $40,000 a day.

Imperva Said to Be Working With Qatalyst to Explore a Sale (Bloomberg)
Imperva Inc., the cybersecurity company targeted by activist investor Elliott Management Corp., hired Qatalyst Partners to explore a sale after receiving unsolicited takeover interest, people with knowledge of the matter said. Several potential strategic buyers expressed interest in Imperva, prompting the company to interview banks and authorize a sale process, said the people, who asked not to be identified because the information is private. Imperva ultimately hired Qatalyst, the people said, a boutique advisory firm that specializes in technology deals. Last month, Elliott disclosed in a 13D filing that it had amassed 9.8 percent of Redwood Shores, California-based Imperva and started a dialogue with the company’s board about “strategic and operational opportunities.” As of June 28, Elliott had increased its stake to 10.9 percent, according to a regulatory filing.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.