Elliott Proposes Revamped Board To End Hess Proxy Fight

Law360, New York (May 14, 2013, 2:36 PM EDT) -- Hedge fund Elliott Management Corp., which is involved in a bitter proxy fight with Hess Corp., proposed a new board Tuesday that would include all 10 nominees put forward by the two sides, the latest salvo by the activist investor ahead of Thursday's shareholder vote.

Elliott, which owns 4.5 percent of Hess, did not proposed a specific number of seats for the new board. But the hedge fund said its proposal would refresh the board and provide input from directors who are not too closely tied...
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