17th Feb 2016 06:30
LONDON (Alliance News) - Rolls-Royce Holdings PLC is preparing to grant activist investor ValueAct a seat on its board, giving the US-based hedge fund influence over the direction of the business as it seeks to recover from a string of profit warnings, the Financial Times said.
ValueAct is the largest shareholder in the engine maker with a 10% stake and has met with other leading investors in the group in recent weeks to assuage concerns about its intentions should it be given a seat on the board.
Rolls-Royce told the FT no decision has yet been made on whether to support or reject ValueAct's request for a seat.
https://next.ft.com/content/4813d966-d4fd-11e5-829b-8564e7528e54
By Sam Unsted; [email protected]; @SamUAtAlliance
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