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Stock Market & Financial Investment News

News Breaks
July 20, 2013
15:01 EDTHRGSEC rejects settlement with Falcone, Harbinger
In a regulatory filing from Friday, the Harbinger Group said: "Late in the afternoon on July 18, Harbinger Capital Partners, Harbinger Capital Partners Offshore Manager, Harbinger Capital Partners Special Situations GP, and Philip A. Falcone were informed that the SEC voted not to approve the previously disclosed agreement in principle between the enforcement staff of the SEC and the HCP Parties regarding the settlement of two civil actions filed by the SEC against the HCP Parties. None of the SECís actions were brought against Harbinger Group or any of its subsidiaries and the subject matters described in these actions do not include any conduct involving, by, or on behalf of the company or any of its subsidiaries."
News For HRG From The Last 14 Days
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October 20, 2014
07:33 EDTHRGHarbinger expresses disappointment in Central Garden & Pet's proposal rejection
Harbinger Group (HRG) released a letter to the board of Central Garden & Pet (CENT) expressing disappointment with the CENT board announcement rejecting HRG's proposal to acquire all of CENT for $10.00 in cash per share or alternatively to acquire CENT's Pet Segment for $750M in cash. HRG said it remains committed to pursuing a transaction with CENT and has called upon the members of the CENT Board to fulfill their responsibilities as fiduciaries to all shareholders of CENT by engaging in a constructive dialogue with HRG regarding its proposals, or otherwise to resign from the CENT Board. HRG is also encouraging CENT shareholders to communicate their opinion of these proposals, as well as the way in which these proposals were reviewed and dismissed, to the CENT Board. In the board, Harbinger Group said, "We believe that the Board's process in evaluating and responding to our proposals was deeply flawed and this Board continues to shirk its duty to act as an unbiased steward and fiduciary to all of the Company's shareholders... HRG remains committed to acquiring all of CENT for $10.00 in cash per share or alternatively acquiring CENT's Pet Segment for $750 million in cash. HRG's $10.00 per share offer represented a premium of 27.5% to the trading value of CENT common shares immediately before the offer. As a result of the announcement of HRG's offer, the CENT commons shares traded up to as high as $10.01 per share. However, the lack of action by CENT and its Board has allowed the CENT common shares to decline below the level of its share price before HRG made its offer public. Today, our $10.00 per share offer now represents a premium of 44.5% to the current trading value of CENT common shares."

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