Paul Singer’s New Mantra: Be Like Argentina
By
Getty Images
Elliott Management is certainly keeping busy positioning itself for the widespread global depression that’s heading our way. The hedge fund’s latest project is to get Dutch paint behemoth Akzo Nobel to sell itself to American paint behemoth PPG Industries. Not for a mere $24.19 billion, of course. Paul Singer & co. can see as clearly as Akzo that that’s way too low. But however will Akzo figure out what the right number is if it stubbornly refuses to have a conversation about it?
Paul Singer is familiar with adversaries who won’t talk to him. He’s also familiar with how that usually turns out for them. But there is a way to avoid the unpleasantness of a proxy contest to fire the entire board. And that is: Do what he wants you to do. Just look at Argentina. After exhausting all other options, and a few non-options, like defaulting again, Argentina eventually saw the wisdom of giving Elliott what it wanted, and now it’s booming. Just ask it…
Paul Singer’s New Mantra: Be Like Argentina
