July 19, 2018 / 1:29 PM / 2 years ago

Paulson & Co urges Detour Gold to call special meeting for board overhaul

July 19 (Reuters) - Activist investor John Paulson’s hedge fund on Thursday urged Detour Gold Corp to call a special shareholder meeting to replace a majority of the company’s directors, as it pushes for change at the Canadian gold miner.

Paulson & Co’s statement comes a day after the parties engaged in a heated public exchange over Detour’s failure in publicly disclosing a buyout offer.

Paulson & Co, run by billionaire John Paulson, has threatened to replace the company’s board if it does not successfully explore strategic alternatives, including a sale, and look for a new chief executive. It owns 5.4 percent of Detour Gold.

Paulson said it will request for the meeting to be held no later than Sept. 28. (Reporting by John Benny in Bengaluru Editing by Saumyadeb Chakrabarty)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below