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Profile Advisors represents Ortelius Advisors, which has filed a lawsuit to block the takeover of Hudson’s Bay Co., owner of Saks Fifth Ave, by a group led by its executive chairman Richard Baker.
Ortelius, which owns a 0.5 percent stake in HBC, alleges that Baker and HBC took actions to knock down the value of the company’s shares.
Peter DeSorcy, managing member of Ortelius, said Baker’s duties as executive chairman “were inexorably compromised” after he tried to buy the company two years ago.
“His interests were no longer aligned with minority investors in maximizing shareholder value, but in minimizing the purchase price for the continuing shareholders,” said DeSorcy.
Ortelius charges that documents prepared by HBC contain “a number of misrepresentations and omissions.” It claims that HBC and Baker have undervalued the worth of HBC’s flagship Saks property by more than 50 percent.
Profile’s Greg Marose and Charlotte Kiaie represent Ortelius.
Joele Frank, Wilkinson Brimmer Katcher backs the Baker group bid. It has Matthew Sherman, Kelly Sullivan, Annabelle Rinehart and Kara Brickman handling that effort.
Sard Verbinnen & Co.’s Liz Zale Paul Scarpetta and Meghan Gavigan work for the special committee of HBC that accepted Baker bid over a competing offer by private equity firm Catalyst Capital Group.
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.
Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
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