{"id":5837,"date":"2007-03-21T00:00:00","date_gmt":"2007-03-21T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-oppose-northwest-offering","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2007\/hedge-funds-oppose-northwest-offering.html","title":{"rendered":"Hedge Funds Oppose Northwest Offering"},"content":{"rendered":"<p>  A group of hedge funds that holds <strong>Northwest Airlines<\/strong> Corp. stock is asking the bankruptcy court to delay a ruling on the company&#8217;s request to conduct a rights offering to raise up  to $750 million to fund its bankruptcy exit.<\/p>\n<p>  The hedge fund group, which formed a committee in the airline&#8217;s Chapter 11 case, said the proposed rights offering doesn&#8217;t reflect Northwest&#8217;s fair market value because the company didn&#8217;t offer  other legacy carriers or &#8220;strategic investors&#8221; the right to purchase the equity.<\/p>\n<p>  &#8220;Though styled as a rights offering, the transaction has the same economic effect as a straight sale of equity,&#8221; the group, which calls itself the ad hoc committee of equity security holders, said  in court papers filed Monday.<\/p>\n<p><a href=\"http:\/\/www.forbes.com\/feeds\/ap\/2007\/03\/20\/ap3534992.html\"><br \/><\/a> <strong><a href=\"http:\/\/www.forbes.com\/feeds\/ap\/2007\/03\/20\/ap3534992.html\">Read Com<\/a><a href=\"http:\/\/www.forbes.com\/feeds\/ap\/2007\/03\/20\/ap3534992.html\">plete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A group of hedge funds that holds Northwest Airlines Corp. stock is asking the bankruptcy court to delay a ruling on the company&#8217;s request to conduct a rights offering to raise up to $750 million to fund its bankruptcy exit. [&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-5837","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5837","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=5837"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5837\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}