Activist investor Laxey Partners has thrown its weight behind reports Aberdeen Asset Management is set to launch a takeover bid for Alliance Trust.
According to a report in the Telegraph, Aberdeen CEO Martin Gilbert said he was considering pitching for the trust, and ousting Katherine Garrett-Cox as chief executive of the £2.1bn company. Brewin Dolphin, one of the biggest shareholders in Alliance Trust, also remains open to the management change, according to reports. Laxey has issued fresh demands for a wide-ranging review of Alliance Trust by its new non-executive chairman, Karin Forseke. The activists are campaigning for Forseke to appoint a new external fund manager to manage Alliance's portfolio. Colin Kingsnorth, chie...
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