Hedge Fund Demands Hotel Owner's Position On Possible Sale

Law360, New York (July 16, 2013, 2:58 PM EDT) -- Strategic Hotels & Resorts Inc. was attacked Tuesday in an open letter from minority shareholder Orange Capital LLC over not confirming — or denying — alleged plans to shop the company out for sale, and the hedge fund demanded more transparency from the hotel owner.

New York-based Orange blasted Strategic for not acknowledging a series of media reports from last month that claimed it had hired an adviser to pursue a potential sale of the company. The hedge fund, which owns a 3.7 percent stake in...
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