Detour offers Paulson seat on board, 'disagreed' on sale

In an effort to ease an increasingly acrimonious standoff with one of its investors, Detour Gold says it’s offering Paulson & Co. a list of concessions, including a spot on the board and a pledge to consider any “new” ideas the hedge fund brings forward. “We know the heavy expense and distraction of a proxy fight is not in the best interests of Detour Gold,” Detour chairperson Alex Morrison said in a letter dated Tuesday addressed to billionaire John Paulson, which was emailed to Bloomberg. “This is why we are writing to you today with a settlement offer that we believe is fair and reasonable.”