Hedge fund promises proxy fight for Post Properties

02/1/2008 | Wall Street Journal, The

The board of a $1.25 billion Chicago-based hedge fund has given Post Properties Inc. notice it will engage in a proxy fight to ensure the sale of the Atlanta-based REIT. Post announced it is considering a bid from its founder, but Pentwater Capital Management LLC executive Matt Halbower said the proxy battle is necessary because he believes Post may reject the bid after a deadline for investors to nominate alternate board members expires Feb. 24.

View Full Article in:

Wall Street Journal, The

Published in Brief: