Monday, May 08, 2006

A fly in the ketchup

In the 1980s, corporate raiders dismantled companies for the sums of their parts. Now, as private equity and hedge funds have become powerful forces in mergers and acquisitions, many are trying to recast themselves as smart managers. Nelson Peltz's recent attempt to take over almost half of H.J. Heinz Co.'s board of directors has raised questions of just how meaningful such a distinction might be.

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