Moore Capital impedes Trading Emissions and Leaf Clean Energy merger plans

February 24th, 2010
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Last week, the proposal to merge Trading Emissions PLC (AIM: TRE) and Leaf Clean Energy Company (AIM: LEAF) failed when the merger earned only 63% of shareholder votes, which is below the required 75% threshold. Trading Emissions is an emissions trader that invests in environmental and emissions assets, while Leaf Clean Energy makes clean energy investments predominantly in North America.

The merger was intended to get Trading Emissions deeper into the North American market, but the not-in-favor vote from one large New York-based hedge fund—Moore Capital Management LP, managed by Louis Bacon, caused the merger to collapse. Moore Capital owns 41.2 million shares of Trading Emissions, which represent approximately 16% of the company’s voting rights.
For Detailed Investor Profiles on these Investors, click below:
Moore Capital Management
Related People: Greg Coffey; Henry Bedford*; Jean-Philippe Blochet; Louis Bacon
Related Entities: Moore Capital Emerging Markets; Moore Global Fixed Income; Moore Japan Restructuring; Remington Investment Strategies; Valence Capital Management
Related Article Tags: Green, Socially Responsible, ESG and Sustainable Investmenting Hedge Fund News


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