Paulson & Co. has convinced shareholders of Detour Gold Corp. to overthrow the bulk of the Canadian miner’s board of directors, including its interim CEO, ending a nasty six-month proxy battle. John Paulson, president of Paulson & Co., listens at the Economic Club of New York in New York on Nov. 20, 2012. Marcelo Kim, a partner at Paulson who was on the hedge fund’s slate of board nominees, was not elected. Paulson began the proxy battle in June with a call for the company to consider putting itself up for sale. Meanwhile, Paulson increased its stake in Detour, from 5.4 per cent at the start of the battle to 5.7 per cent in November.

Source: thestar December 13, 2018 16:11 UTC