Steel Partners opposes bid for Aderans stake
Monday, May 11, 2009 : PermalinkReuters – U.S. hedge fund Steel Partners said it has urged shareholders of loss-making wig maker Aderans Holdings to reject an offer by Japanese private equity fund Unison Capital to buy Aderans shares.
Japan’s Aderans said last month it supported Unison Capital’s bid for at least a 35 percent stake in Aderans to replace top shareholder Steel Partners, which has been pushing for management changes.
Unison Capital’s proposed offer is "inadequate and coercive", Steel Partners said in a statement on Monday.
Tags: aderans, hedge fund, japan, management changes, percent-stake, private equity fund, reuters, shareholder, shareholders, steel partners, unison, wig-maker
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