The Morning Brief: Little-Known Altai Takes Wausau Stake

Another activist hedge fund has taken a major stake in Wausau Paper. Little known Altai Capital Management, managed by Rishi Bajaj, Toby Symonds and Steve Tesoriere, disclosed it owns 5.5 percent of the pulp and paper company.

In a 13D filing, the New York City-based investor said it reviewed materials filed by New York City activist Starboard Value, including Starboard’s recent announcement of its intention to nominate three individuals for election to the board at the 2014 annual meeting as well as Wausau’s response.

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