Malaymail – Billionaire hedge-fund manager Paul Singer may have met his match.
His Elliott Capital Advisors LP is in a face-off with Singapore’s Oversea-Chinese Banking Corp. over a family-owned Hong Kong bank. OCBC is trying to buy Wing Hang Bank Ltd. for US$5 billion (RM15.9 billion), and Singer has amassed a 7.8 per cent stake in what may be an attempt to extract a higher bid from OCBC, Mizuho Financial Group Inc. says. If Elliott gets a bigger stake or enough shareholder support, the hedge fund could stop OCBC’s plans to delist Wing Hang and cap its ownership at 75 per cent.
