Sandell Makes 2nd Call For Greyhound Parent To Restructure

Law360, New York (January 15, 2014, 1:13 PM EST) -- Activist hedge fund Sandell Asset Management Corp. has renewed public calls for Scottish company FirstGroup PLC, parent of Greyhound Lines Inc., to spin off its U.S. operations, the fund said in a letter released Wednesday.

The New York-based hedge fund sent an open letter to FirstGroup's board of directors accompanied by a white paper urging the company to reconsider Sandell’s proposals to restructure the company. The fund, which owns a 3.1 percent stake in the company, again thrust FirstGroup’s struggles into the public spotlight after the...
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