IN BRIEF: Whitbread asks for shareholder support against Corvex
Whitbread PLC - Dunstable, England-based operator of Premier Inn and other hospitality chains - Board repeats its recommendation for shareholders to reject the resolution proposed by shareholder Corvex Management LP at the general meeting Whitbread has called by November 9. Corvex, a 6.4% shareholder, back in September requisitioned the meeting to elect a Corvex partner, James Gemmel, to the Whitbread board. At the time, Corvex said Whitbread shares have underperformed peers and the wider market over multiple time horizons. The activist investor claimed that Whitbread's recent strategy review "failed to address Whitbread’s underlying challenges and was poorly received by the market". Read More