Casablanca claims victory vs. Cliffs

Jul 30, 2014 | 12:52 PM | Nat Rudarakanchana

Tags  Cliffs Natural Resources, Casablanca Capital, iron ore, hedge fund, proxy, Nat Rudarakanchana

NEW YORK — Activist investor Casablanca Capital LP is claiming a win in its months-long proxy battle with iron ore miner Cliffs Natural Resources Inc., although Cliffs was not so quick to concede.

New York-based hedge fund Casablanca said it secured a majority of Cliffs’ 11 director positions after six of its nominees won shareholder votes at the miner’s annual meeting July 29. That came after independent proxy advisors recommended that shareholders elect four Casablanca-backed candidates, leaving....

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