Baupost Group’s Highland Companies Resign in Battle Over Mega-Quarry Deal

Here is some good news for environmental activists and for some farmers in the Melancthon Township, 120 km north of Toronto. The Highland Companies has withdrawn their application for building  a 2,316 acre limestone mega-quarry in the area. The application was filed back in March 2011. Good news for farmers, but bad for the $26 billion hedge fund, Baupost Group. Seth Klarman has a controlling stake in Highland Companies. The project, had it materialized, would have given Baupost control over the second largest limestone mine in North America, with deposits worth billion of dollars.

Posted on the "ValueWalk" website, by Tabinda Husain, Nov. 21/12

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