Word: highfieldsã
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Dates: during 2002-2002
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...fund made the offer out of “frustration with the apparent unwillingness of [Reader’s Digest’s] management to more aggressively manage [its] capital and portfolio of businesses,” according to Highfields?? filings with the Securities and Exchange Commission...
...source close to the deal said that while Reader’s Digest was interested in Highfields?? suggestions about ceasing acquisitions of other companies, the company felt that the Reiman deal was too good to pass...
...March 26 Highfields filed a strongly worded statement with the SEC that soon was made public expressing frustration with Wallace-Reader’s Digest President Chris Devita and the company’s board of directors after the decision to not take up Highfields?? offer...
...statement says that Highfields had “expressed its disappointment in the Wallace Funds’ curt dismissal of Highfields?? firm and fully financed proposal to exchange Nonvoting Shares for the Wallace Funds’ Shares, especially in light of [Reader’s Digest’s] long-standing poor performance...
Jack Meyer, the president of HMC, which owned nearly $11 million in Reader’s Digest stock as of last quarter independently of Highfields?? investments, also did not return a call for comment...