Distressed Securities

News Articles for Distressed Securities (14)

News Articles for Distressed Securities top ^

2013/3/4

Move to Seek Temporary Restraining Order in Federal Court Respond to CWH's Latest Attempt to Disenfranchise Shareholders Through Bylaw Amendment NEW YORK , March 4, 2013 /PRNewswire/ -- Corvex Management, LP and Related Fund Management, LLC, announced today that on March 1, 2013 they filed a Complaint (No. 1:13-cv-10475) in the United States District Court of Massachusetts naming CommonWealth REIT (CWH), Barry M.

View more Corvex and Related File Lawsuit Against CommonWealth REIT (CWH) to Enjoin The Closing of the Equity Offering analysis

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2013/2/11

First Trust Specialty Finance and Financial Opportunities Fund Declares Its Quarterly Distribution of $0.165 Per Share

First Trust Specialty Finance and Financial Opportunities Fund (the “Fund”) (NYSE: FGB) today declared the Fund’s regularly scheduled quarterly distribution payable on February 28, 2013, to shareholders of record on February 22, 2013.

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2013/2/20

First Trust Strategic High Income Fund II Declares its Monthly Common Share Distribution of $0.12 Per Share for March

First Trust Strategic High Income Fund II (the "Fund") (NYSE: FHY) has declared the Fund’s regularly scheduled monthly common share distribution payable on March 15, 2013 to shareholders of record as of March 5, 2013.

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2013/3/20

First Trust Strategic High Income Fund II Declares Its Monthly Common Share Distribution of $0.12 Per Share for April

First Trust Strategic High Income Fund II (the "Fund") (NYSE: FHY) has declared the Fund’s regularly scheduled monthly common share distribution payable on April 15, 2013 to shareholders of record as of April 3, 2013.

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2013/3/19

Symphony Investors LLC's Tender Offer for Shares of SUPERVALU Common Stock Scheduled to Expire at 5:00 p.m. New York City Time on March 20, 2013; No Further Extensions Expected

NEW YORK , March 19, 2013 /PRNewswire/ -- Symphony Investors LLC ("Symphony") confirmed today that Symphony's tender offer for up to 30% of the shares of common stock (the "Shares") of SUPERVALU Inc. (NYSE: SVU) (the "Company") outstanding as of immediately prior to 5:00 p.m. , New York City time, on March 20, 2013 (the "Expiration Time") at a purchase price of $4.00 per share, net to the seller in cash, without interest and subject to any applicable withholding tax, will expire at the Expiration Time, unless further extended in accordance with the terms of the tender offer agreement (the "Tender Offer Agreement") between Symphony, the Company and Cerberus Capital Management, L.P., the managing member of Symphony ("Cerberus"). Symphony does not currently expect to extend the tender offer beyond its current expiration time.

View more Symphony Investors LLC's Tender Offer for Shares of SUPERVALU Common Stock Scheduled to Expire at 5:00 p.m. New York City Time on March 20, 2013; No Further Extensions Expected analysis

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2013/3/21

Symphony Investors LLC Announces Completion of Tender Offer for Shares of SUPERVALU Common Stock and Issuance by SUPERVALU of Shares of Common Stock to Symphony Investors LLC

NEW YORK , March 21, 2013 /PRNewswire/ -- Symphony Investors LLC ("Symphony") announced today that Symphony has completed its tender offer for up to 30% of the shares of common stock (the "Shares") of SUPERVALU Inc. (NYSE: SVU) (the "Company") outstanding as of immediately prior to 5:00 p.m. , New York City time, on March 20, 2013 (the "Expiration Time"). The depositary for the tender offer has advised Symphony that as of the Expiration Time, approximately 11,686,406 Shares were validly tendered and not validly withdrawn pursuant to the tender offer.

View more Symphony Investors LLC Announces Completion of Tender Offer for Shares of SUPERVALU Common Stock and Issuance by SUPERVALU of Shares of Common Stock to Symphony Investors LLC analysis

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2013/4/9

Secret Attempt to Amend Maryland Law and Subvert Shareholder Rights Thwarted NEW YORK , April 9, 2013 /PRNewswire/ -- Corvex Management LP ("Corvex") and Related Fund Management, LLC ("Related") today commented on the Portnoys' latest failed efforts to disenfranchise CommonWealth REIT's (NYSE: CWH) shareholders by attempting to deny them of their fundamental right to choose company directors – a right which has been available under CWH's charter since CWH's initial public offering in 1986.

View more Corvex And Related Comment On Commonwealth REIT's Latest Effort To Deny Shareholder Rights Available Under Company Charter analysis

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2013/4/12

File Definitive Consent Solicitation Statement with SEC NEW YORK , April 12, 2013 /PRNewswire/ -- Corvex Management LP ("Corvex") and Related Fund Management, LLC ("Related"), whose separately managed investment funds collectively own approximately 9.2% of the outstanding common shares of CommonWealth REIT ("CWH"), announced that they have delivered today to CWH formal shareholder demands for CWH to fix a record date to determine the shareholders entitled to act by written consent to remove the entire Board of Trustees.

View more Corvex and Related Deliver Demand for Record Date for CommonWealth REIT Consent Solicitation analysis

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2013/4/15

Committed to Immediately Move Forward with Consent Solicitation to Remove Entire Board and Stop Further Value Destruction by Management NEW YORK , April 15, 2013 /PRNewswire/ -- Corvex Management LP ("Corvex") and Related Fund Management, LLC ("Related") today issued the following statement in response to the misleading and inaccurate press release issued by CommonWealth REIT (NYSE: CWH) this morning: "It is disgraceful that CWH would unilaterally attempt to take away a right shareholders have had since 1986 solely in an effort to further entrench its underperforming leadership team.

View more Corvex And Related Respond To CommonWealth REIT's Latest Effort To Disenfranchise All Shareholders analysis

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2013/4/22

First Trust Strategic High Income Fund II Declares its Monthly Common Share Distribution of $0.12 Per Share for May

First Trust Strategic High Income Fund II (the "Fund") (NYSE: FHY) has declared the Fund’s regularly scheduled monthly common share distribution payable on May 15, 2013 to shareholders of record as of May 3, 2013.

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2013/4/26

SUPERVALU Appoints Two New Executives to Its Board of Directors

SUPERVALU (NYSE: SVU) today announced the election of two new members to its Board of Directors: John Standley, chairman, president and CEO of Rite Aid Corporation and Mark A.

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2013/5/9

First Trust Specialty Finance and Financial Opportunities Fund Declares its Quarterly Distribution of $0.165 Per Share

First Trust Specialty Finance and Financial Opportunities Fund (the “Fund”) (NYSE: FGB) today declared the Fund’s regularly scheduled quarterly distribution payable on May 31, 2013, to shareholders of record on May 24, 2013.

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2013/5/9

NEW YORK , May 9, 2013 /PRNewswire/ -- Corvex Management, LP ("Corvex") and Related Fund Management, LLC ("Related"), whose separately managed investment funds collectively own approximately 9.2% of the outstanding common shares of CommonWealth REIT (NYSE:CWH) , today issued the following statement regarding the procedural ruling issued yesterday by the Circuit Court for Baltimore City, Maryland , directing that the claims that Corvex and Related have brought against CommonWealth be heard by an arbitration panel: "While we are disappointed with the Baltimore Court's decision, we are pleased that a sophisticated arbitration panel has already been formed to address our claims.

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2013/5/15

Urge CommonWealth Shareholders Vote To Remove Entire Board Of Trustees NEW YORK , May 15, 2013 /PRNewswire/ -- Corvex Management LP ("Corvex") and Related Fund Management, LLC ("Related"), today issued the following statement regarding the decision by CommonWealth REIT (NYSE:CWH) to re-appoint Joseph L.

View more Corvex And Related Comment On The Results Of CommonWealth REIT's Annual Meeting analysis

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