As Alliance Trust reaches an uneasy truce with activist investor Elliott Advisors, Investment Week looks at previous attempts at boardroom coups, and how they ended.
Activist failures Electra Private Equity v Sherborne Investors Last year Electra Private Equity rejected a bid by Edward Bramson (pictured) to overhaul how the company was run, and force a change in the board. Bramson held a 20% stake in the company but his proposals, which included giving himself a seat on the board, were rejected by 60% of shareholders. The vote followed a letter sent by Bramson criticising performance and suggesting ways to create £1bn of value for shareholders. Bramson has since continued to increase his stake in the firm up to 23.4%, indicating he may try t...
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