HITE Hedge Asset Management, an investment firm specialising in the energy sector and its transition, has sent a letter to the Board and Management of NiSource Inc encouraging the pursuit of a privatisation transaction for the business.
HITE Hedge Asset Management, an investment firm specialising in the energy sector and its transition, has sent a letter to the Board and Management of NiSource Inc encouraging the pursuit of a privatisation transaction for the business.
HITE Hedge, owns more than two million shares NiSource shares and is supportive of the appointment of Lloyd Yates as Chief Executive officer, who the HITE Hedge describes as ‘an effective and open-minded leader, capable of building on NiSource’s recent successes for the benefit of its customers, employees, and shareholders alike’.
The letter says: “we strongly encourage Mr Yates and the NiSource Board to aggressively pursue a privatisation transaction that pulls forward benefits for customers, employees, and investors alike.
“We are optimistic that both the appointment of an open-minded executive like Mr Yates and the involvement of leading activist Elliott Management pave the way for such a transaction. We stand ready to support these efforts to the best of our ability.”
