{"id":3439,"date":"2005-10-10T00:00:00","date_gmt":"2005-10-10T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-warning-from-ms-chief","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2005\/hedge-fund-warning-from-ms-chief.html","title":{"rendered":"Hedge-fund warning from M&#038;S chief"},"content":{"rendered":"<p>( <a href=\"http:\/\/www.sundayherald.com\/\">www.sundayherald.com<\/a> ) &#8211; Paul Myners, the Marks &amp; Spencer chairman who led a Treasury review of institutional investment, has warned that companies\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2traditional means of fighting off takeovers are redundant because of the pressures of hedge-fund investors in the UK market.<\/p>\n<p>  He said he was \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cshocked\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d to discover that M&amp;S\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s share register had \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201ceffectively collapsed\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d while the retailer was fighting off a bid from Philip Green\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s Revival vehicle in summer 2004.<\/p>\n<p>  He told the Sunday Herald: \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cWhat it meant was that the arguments you normally go to your shareholders with \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 such as, \u00c3\u00a2\u00e2\u201a\u00ac\u00cb\u0153look don\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2t sell the company, look at the excellent long-term value\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2 \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 became  irrelevant. For them, it became a simple cash arbitrage decision. They were saying \u00c3\u00a2\u00e2\u201a\u00ac\u00cb\u0153Green\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s offering 400p\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d<\/p>\n<p>  <a href=\"http:\/\/www.sundayherald.com\/52115\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>( www.sundayherald.com ) &#8211; Paul Myners, the Marks &amp; Spencer chairman who led a Treasury review of institutional investment, has warned that companies\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2traditional means of fighting off takeovers are redundant because of the pressures of hedge-fund investors in the UK [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3439","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=3439"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3439\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=3439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=3439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=3439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}