Stocks to invest in – Hedge Fund News: Michael Vranos, ValueAct Capital, Elliott Management



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Vranos’s Ellington Hires Stohr to Bolster Distressed-Debt Team (Bloomberg)
Michael Vranos’s hedge fund Ellington Management Group has hired former GoldenTree Asset Management money manager Dale Stohr to boost its credit team. Stohr joined the hedge fund this week on the credit team, according to Mark Heron, the head of distressed debt at Ellington. Stohr led the U.S. distressed-debt team at Royal Bank of Scotland Group Plc before joining GoldenTree in 2014, where his role also included research.

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ValueAct to Pay Record $11 Million to Settle Antitrust Lawsuit (The Wall Street Journal)
ValueAct Capital Management LP agreed to pay a record $11 million fine to settle a Justice Department lawsuit over the activist hedge fund’s disclosure of two investments. The settlement, announced by the government Tuesday, comes three months after it accused ValueAct of failing to seek antitrust clearance for its purchases of about $2.5 billion in shares of Baker Hughes Inc. and Halliburton Co. in 2014. The oil-field-services providers had announced plans to merge before the government blocked the move on antitrust grounds. The lawsuit sought as much as $19 million, based on the maximum fine of $16,000 a day. That ceiling is set to go up to $40,000 a day.

Imperva Said to Be Working With Qatalyst to Explore a Sale (Bloomberg)
Imperva Inc., the cybersecurity company targeted by activist investor Elliott Management Corp., hired Qatalyst Partners to explore a sale after receiving unsolicited takeover interest, people with knowledge of the matter said. Several potential strategic buyers expressed interest in Imperva, prompting the company to interview banks and authorize a sale process, said the people, who asked not to be identified because the information is private. Imperva ultimately hired Qatalyst, the people said, a boutique advisory firm that specializes in technology deals. Last month, Elliott disclosed in a 13D filing that it had amassed 9.8 percent of Redwood Shores, California-based Imperva and started a dialogue with the company’s board about “strategic and operational opportunities.” As of June 28, Elliott had increased its stake to 10.9 percent, according to a regulatory filing.


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