From Reuters: Hedge fund titan SAC Capital Advisors is
applying fresh pressure on Clearwater Paper Corp to raise its share price by
urging the company to split itself into two parts and consider selling one or
both businesses, according to a regulatory filing.
Steven Cohen's $14 billion hedge fund, which ranks as the
company's third biggest investor with a 7.1 percent stake, proposed that the
board consider separating the main businesses, hire an investment bank to
explore a sale and grow its board by two members.
SAC, whose investment decisions have long been closely
followed in the investment world, first made its interest in Clearwater Paper
known in May when fund manager David Rosen wrote to chief executive officer
Gordon Jones that Clearwater Paper was "deeply undervalued."
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