Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Gleacher & Co., the brokerage that’s closing its fixed-income business, won’t face a boardroom challenge from activist shareholder Clinton Group Inc. as the hedge-fund firm won’t nominate its own slate of directors.

Clinton Relational Opportunity Master Fund LP failed to buy more stock in New York-based Gleacher even after offering above-market prices, the fund said today in a regulatory filing. The investor said it now supports the plan of private-equity firm MatlinPatterson Global Advisers LLC, which said May 2 that Gleacher should fire its executives and consider winding down or pursuing a merger or sale.

Clinton Group, part of a coalition that held a 7.7 percent stake in the brokerage as of last month, had proposed an alternate plan to turn Gleacher into an asset manager.

Gleacher said April 10 that it’s closing the fixed-income business, which generated most of the company’s revenue, as salesmen defected and customers suspended trading. The brokerage was in talks to combine with Sterne Agee Group Inc., people familiar with the matter said at the time.

Marcia Horowitz, a Gleacher spokeswoman at Rubenstein Associates Inc., didn’t immediately respond to phone and e-mail messages seeking comment.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.