Today the Dutch Financial Times reports that the hedge fund Hermes has sold a substantial part of its stock in ASM International. Four months ago it owned 13% of the company’s stock; today Hermes owns just 4,97%. This is a remarkable development; after years of litigation between Hermes and ASMI, the Enterprise Chamber recently granted Hermes’ request for an inquiry into the policy and affairs of the company. For Bastiaans comments on that judgment, see here. Is Hermes’ patience wearing thin at last? Or is this the result of Wouter Rosingh (former managing director of Hermes Focus Asset Management) leaving the fund earlier this year, as he played an important part in the conflict?
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October 07, 2009
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