Greyhound Parent Rebuffs Hedge Fund's Sale Proposal

Law360, New York (December 11, 2013, 11:49 AM EST) -- Greyhound Lines Inc. parent FirstGroup PLC on Wednesday brushed off calls from an activist hedge fund to sell the popular bus service and spin off and list its U.S. school bus operations, saying a long-range strategic plan unveiled in May is more promising for shareholders.

New York-based Sandell Asset Management Corp. earlier in the day went public with its push for the sputtering Scottish company to divvy up its operations in a bid to recapture some of the value lost in a turbulent stretch. Loosening ties...
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