The appearance of a high-profile activist investor on F&C's share register has added to the uncertainty surrounding BMO's acquisition of the asset manager.
Activist group Elliott Capital Advisors yesterday disclosed a 3.2% stake in F&C, the day after Standard Life Investments (SLI) - which holds 10.2% of the fund group - said it is keeping its "options open" over the deal. The proposed £708m acquisition by Canadian's Bank of Montreal has the backing of F&C's largest shareholder Aviva, but the presence of Elliott on the shareholder register raises the possibility of a further twist. The US hedge fund has already made a number of notable interjections into corporate life so far in 2014. These include taking a stake in supermarket Wm Mor...
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