Activist SAC Capital Pressing Spokane-based Clearwater Paper to Split at Hedge Funds Leaders Forum

Aug. 21, 2012 - PRLog -- (July 31, 2012, New York) The Seattle Times reports that hedge fund titan Steven A. Cohen wants the board of Clearwater Paper to separate the Spokane-based company's consumer products from its pulp and paper operations so either or both can be sold off, according to a regulatory filing Friday.

Cohen's SAC Capital Advisors met with Clearwater's directors Thursday to urge they split the company and "pursue the divestiture of one or both businesses to one or more strategic and/or financial buyers," the SAC filing says. The fund also proposed hiring an investment bank to identify potential buyers, and expanding the six-member board with two new independent directors. SAC -- among the biggest and most successful hedge funds -- owns 1.6 million shares, or 7.1 percent, of Clearwater's stock.

How far activist hedge funds can go will be discussed at on September 25 in New York, October 9 in Chicago and December 12 in London, by hundreds of the most important players in alternative investments who will gather for all-star agendas at Hedge Funds Leaders Forum 2012, "Getting Ready to Manage $5 Trillion by 2016"

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Hedge Funds Leaders Forum 2012, "Getting Ready to Manage $5 Trillion by 2016" will provide attendees in New York, Chicago and London with the most up-to-date review of where this ever-changing industry stands and how regulatory and alpha expectation s will impact it. Recognized managers, investors, experts, regulators, and strategists will return to Hedge Funds Leaders Forum 2012 to provide the information practitioners are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.

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