January 22, 2009
Davidson Kempner delivers the required number of consents to reconstitute the Sun-Times board of directors.
On January 16, Willkie client Davidson Kempner Capital Management LLC announced victory in its battle to change the board of directors of Sun-Times Media Group Inc., the Chicago-based newspaper publisher. Davidson Kempner, a New York-based hedge fund and owner of 5.9% of Sun-Times stock, delivered to the publisher the required number of consents to reconstitute the Sun-Times board of directors. The consent solicitation was successfully waged in an effort to reconstitute the board with directors comprising nominees experienced in publishing and restructuring. Six ousted directors are to be replaced with three Davidson Kempner nominees; one existing director will maintain his seat on the board. The matter was handled by partner David Boston and associates Matthew Guercio, Keith Grannis and Steven Poliner.
