Deals
Capricorn Activist Palliser Positioned for Shareholder Vote
- Palliser owns 6.9% of common stock after derivative conversion
- No decision yet on proceeding with calling meeting: sources
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An activist investor seeking to halt Capricorn Energy Plc’s takeover by NewMed Energy LP has converted its holdings to common shares. The move clears the way for Palliser Capital UK Ltd. to potentially call a special meeting for a vote against the deal.
London-based Palliser, which is run by former Elliott Investment Management executive James Smith, now owns 6.9% of Capricorn’s common stock after converting its position Monday, according to a regulatory filing that confirmed an earlier report by Bloomberg.