Deutsche Börse Stock Exchange Notes
Activist hedge funds strike again, this time on a stock exchange itself. I think these types of attacks and victories will become more common as hedge funds refine their methods, hunt in packs and recover as an industry after the crises.
For the second time in three years, a pair of activist hedge funds have won the ouster of the chairman of Deutsche Börse.
The German stock exchange operator said yesterday that Kurt Viermetz will leave its board on Dec. 8, to much cheering from Atticus Capital and The Children’s Investment Fund, which had been pushing for his removal for weeks, as the firm’s stock has shed more than half its value this year. The Börse had earlier rejected a TCI demand for an extraordinary meeting to remove Viermetz. Source.