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Hedge fund Coltrane has pyrrhic Spotless victory

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It is hard to congratulate Mandeep Manku from New York hedge fund Coltrane on his pyrrhic victory in the long running battle for control of facility services company Spotless.

Manku has gone to ground and is not willing to talk about the fact that he will not be accepting Downer EDI's $1.15 a share cash offer for his 10.6 per cent stake in Spotless.

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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com

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    Original URL: https://www.afr.com/brand/chanticleer/hedge-fund-coltrane-has-pyrrhic-spotless-victory-20170824-gy2xwb