Harbinger Capital Partners Master Fund Ltd.is NorthWestern Energy's largest shareholder with a 20 percent holding
The Wall Street Journal on Wednesday (April 26) described the Harbinger presence at NorthWestern as "an unusually concentrated group of shareholders."
The leader of the pack here is one E. Linn Draper, elected chairman of the NorthWest Board of Directors as of Nov. 1, 2004.
On March 29, 2005, Draper and the board named Michael Hanson as NorthWest President. Hanson is NorthWest's third largest direct shareholder with 29,211 shares
Gary Drook, former NorthWest CEO, is NorthWestern�s second largest direct shareholder with more than 84,000 shares
Until recently, Harbinger had a more fitting name - Harbert "Distressed" Investment Master Fund - then it changed its name in January.
With the name change, Harbinger said there would be no changes in its "distressed "strategy and would continue to "remain focused on special situation and distressed securities including debt and equity investments in turnarounds, restructurings, liquidations, event-driven situations and inter-capital arbitrage