May 4, 2018 / 6:33 AM / 6 months ago

BRIEF-Oaktree Releases Open Letter Following Proposal From Ranger Direct's To Appoint Ares As Investment Manager

May 4 (Reuters) - Oaktree:

* OAKTREE RELEASES AN OPEN LETTER TO RANGER SHAREHOLDERS FOLLOWING PROPOSAL FROM RDL BOARD TO APPOINT ARES AS INVESTMENT MANAGER

* EXPRESS “DEEP DISAPPOINTMENT” WITH RANGER DIRECT BOARD PROPOSAL TO APPOINT ARES MANAGEMENT AS ITS NEW INVESTMENT MANAGER

* RANGER’S BOARD MADE NO ATTEMPT TO RESPOND TO VALID FUNDAMENTAL CONCERNS RAISED IN PUBLICLY-RELEASED APRIL 11 LETTER

* CONTINUE TO BELIEVE THAT WIND-DOWN REPRESENTS CLEAR BEST OPTION FOR SHAREHOLDERS Source text for Eikon: Further company coverage:

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