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Detour Gold Says Hedge Fund Paulson Rejected Its Settlement Offer

by reuters.com posted 8months ago 34 views
Oct 12 (Reuters) - Canadian gold miner Detour Gold Corp said on Friday that its settlement offer regarding management changes, which included a plan to appoint a new chief executive officer, was rejected by hedge fund Paulson & Co. The settlement would have resulted in almost half of its board being refreshed in six weeks, with interim CEO Michael Kenyon stepping down before the next annual general meeting. Detour had also offered to drop a civil claim against activist investor John Paulson’s hedge fund, which owns 5.4 percent stake in the company.

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