Two hedge funds have engaged outside PR counsel as they mount a proxy challenge to airline giant United Continental Holdings' board.
Altimeter Capital Management and PAR Capital Management, minority shareholders of UCH, are running a six-member slate of directors led by ex-Continental CEO Gordon Bethune.
The firm are working with New York-based financial PR firm ASC Advisors and proxy solicitation firm Okapi Partners in the fight.
ASC is led by Abernathy MacGregor vet Steve Bruce and former head of communications for Elliott Management Scott Tagliarino. Tagliarino and director Taylor Ingraham, formerly of Joele Frank, are advising the funds.
The funds said they tried to work with the United board but claimed the company "hurriedly" added three directors to its board on March 7 in expanding it to 15 directors. Altimeter CEO Brad Gerstner said as long-term shareholders "we have been greatly disappointed with United's poor performance and bad decisions over the last several years."
United Continental, in a statement, said it is "deeply disappointed" in the proxy contest, claiming it offered a willingness to make "meaningful changes to our board" in talks with the hedge funds. "PAR and Altimeter have unilaterally taken this hostile action with no concern that a proxy fight could distract the Company from executing on [CEO] Oscar [Munoz]'s strategic plan," the company said.
Munoz returned to work this month as CEO after a heart transplant.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
Have a comment? Send it to 
No comments have been submitted for this story yet.