Simpson Thacher Represents Walter Energy in Successful Proxy Contest Defense
04.26.13
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Simpson Thacher represented Walter Energy, Inc. in its successful defense of the proxy contest waged by activist hedge fund Audley Capital Advisors LLP. Audley sought effective control of Walter Energy by seeking five out of ten board seats at Walter Energy’s April 25, 2013 annual meeting.
Stockholders re-elected all ten of Walter Energy’s Board nominees by a wide margin and rejected all five of Audley’s nominees.
Walter Energy is a leading, “pure-play” metallurgical coal producer for the global steel industry and is listed on the NYSE and TSX.
The Simpson Thacher team included Peter Gordon, Marni Lerner, Ravi Purushotham and Mitchell Ryan (M&A); Ellen Smiley, Jonathan Stradling and Luis Pellerano (Public Company Advisory Practice); and Aimee Adler (Executive Compensation and Employee Benefits).