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Steel Partners says Icahn fights on in Caymans

Reuters – Carl Icahn and other investors who failed to block Steel Partners’ plan to convert a hedge fund into a listed partnership in Delaware court, continue to fight the plan in the Cayman Islands, Steel Partners said on Thursday.

The New York-based fund manager announced it completed the controversial merger of Steel Partners II into a pink sheets portfolio company, WebFinancial. Yet a spokesman acknowledged that the deal, which will create an exchange-listed investment partnership later this year, is only partially consummated.

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