Hedge fund urges AutoCanada to launch strategic review
Clearwater Capital Management has urged AutoCanada Inc (TSX: ACQ), a Canadian automobile dealership group, to initiate a strategic review. In a letter addressed to the chairman, Roland Keiper, president of the Toronto-based hedge fund, expressed concern about AutoCanada's first quarter performance, a concern he says is held by other shareholders. He said AutoCanada's board should form a special committee to consider options that offer the "potential opportunity to sell at an attractive premium and avoid the risk of further operating performance risks." AutoCanada is based in Edmonton.
11 June 2018•5 mins read
