20th Apr 2015 05:58
LONDON (Alliance News) - DC Thomson & Co Ltd, which publishes The Beano comic, has said it will support Alliance Trust PLC in a battle with activist investor Elliott Advisors, according to the Sunday Times.
The news means that Alliance Trust has the backing of its third-largest shareholder, which has a 5.52% stake in the trust.
Elliott, which has built up a 12% stake in Alliance Trust, has criticised the trust's performance and wants shareholders to vote in favour of proposals that would result in the appointment of three directors nominated by the activist investor.
The shareholder vote is due to take place in Dundee, Scotland on Wednesday April 29.
http://www.thesundaytimes.co.uk/sto/business/Finance/article1545622.ece
By Samuel Agini; [email protected]; @samuelagini
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