European shareholder activist Cevian Capital acquires stake in Old Mutual plc
| June 1st, 2009 | ||
| Cevian Capital, a leading shareholder activist focused investment firm, has acquired a 4.1% stake in South African insurer Old Mutual plc (OML.L), despite a significant drop in the company’s share prices in 2008. According to the Telegraph, Cevian Capital cited Old Mutual’s core business stability and affirmed its support for the company’s management, including CEO Julian Roberts, as well as the company’s strategy to improve its performance and increase its share value. Old Mutual, in dire financial straits after a drastic profit decline in 2008, has begun decreasing its global reach by selling its Australian business, closing an office in Hong Kong, and leaving parts of its US business. Cevian Capital is one of the largest European-focused activist investment firms and primarily invests and acquires ownership positions in European public companies with unfavorable market positions to develop and enhance these companies’ long-term value. | ||
See Source | ||
For Detailed Investor Profiles on these Investors, click below: |
Cevian Capital |
Related People: Christer Gardell;
Related Entities: Cevian Capital (UK) LLP;
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles
Add a Comment |
More Recent Headlines
Einhorn, Chanos and Ackman Speak at Ira Sohn Research Conference |
Boaz Weinstein Launching Bond-Focused Saba Capital |
Shareholder Activist Week in Review |
Aderans’ Shareholders Vote in Favor of Steel Partners’ Activist Agenda |
Chemed’s Management Defeats Millbrook Capital (MMI) |
Target Defeats Ackman, All 4 Board Incumbents Re-Elected |
Manatuck Hill Partners Spinning-Off From Pequot |
Ackman's Proxy Fight Is Right on Target |
Amid Scandal, hedge fund titan Pequot winding down |
Harbinger Proceeds with Re-Org Plan for Asarco |
