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Hedge fund opposes hoist maker's sale

2015-12-15 08:10:14| Logistics - Topix.net

A minority shareholder of Morris County defense contractor Breeze-Eastern Corp., maker of hoists for Black Hawk helicopter rescue missions, wants to block a proposed $206 million sale of the company. Jim Vanasek, manager of the hedge fund VM Capital Management LLC in Manhattan, is saying Breeze-Eastern's largest shareholders, the New York City-based investment firms Tinicum Inc. and Wynnefield Capital Management, agreed to sell the company to Cleveland-based TransDigm Group Inc. for too little, $19.61 a share on the New York Stock Exchange.

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