{"id":4597,"date":"2006-06-16T00:00:00","date_gmt":"2006-06-16T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-forces-nrg-bid-withdrawal","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2006\/hedge-fund-forces-nrg-bid-withdrawal.html","title":{"rendered":"Hedge fund forces NRG bid withdrawal"},"content":{"rendered":"<p>Bobsguide &#8211; The hedge fund Pirate Capital has forced US energy company Mirant to withdraw its hostile takeover bid for rival energy producer NRG Energy, after the fund \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 a Mirant shareholder \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 voicedits objection to the move.<\/p>\n<p>  The hedge fund, along with fellow Mirant investors Omega Advisors and Jana Partners, earlier urged the company to abandon its pursuit of NRG, arguing that a merger would not make financial sense.<\/p>\n<p>  Pirate Capital warned Mirant executives that if the offer was not officially withdrawn by June 14th, then the hedge fund would seek to remove members of the current board.<\/p>\n<p>  However, in its subsequent announcement of the withdrawal of the bid, worth $7.9 billion, Mirant made no reference to the hedge fund or other investors in citing its reasons.<\/p>\n<p><a href=\"http:\/\/www.google.com\/news\/url?sa=T&amp;ct=us\/8-0&amp;fd=R&amp;url=http:\/\/www.bobsguide.com\/guide\/news\/14128.html&amp;cid=1107203073&amp;ei=wEiSRKG3EpKKadKo6akK\">Read CompleteArticle<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bobsguide &#8211; The hedge fund Pirate Capital has forced US energy company Mirant to withdraw its hostile takeover bid for rival energy producer NRG Energy, after the fund \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 a Mirant shareholder \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 voicedits objection to the move. The hedge [&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-4597","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4597","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=4597"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4597\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}