Reported 5 months ago
Millennium Management demanded significant changes at Weiss Multi-Strategy Advisers in failed takeover talks, including cutting staff, expelling clients, and controlling finances. The negotiations, which took place in late February and fell apart when Millennium walked away, were revealed in email correspondence made public as part of Weiss's bankruptcy proceedings. Millennium also requested that Weiss' Chief Investment Officer step down and sought new contracts for portfolio managers with firm protections, offering up to $30 million to repay obligations.
Source: YAHOO