After a period of relative calm in the corona pandemic, attacks by activist shareholders are picking up steam again.
(Photo: dpa)
Frankfurt The dispute escalates. After failed talks with the management of the Essen-based Brenntag group, the hedge fund Primestone Capital announced in a letter that it would nominate its own candidates for the Supervisory Board for the Annual General Meeting in June. In this way, Primestone wants to emphasize its demand for the spin-off of the specialty chemicals business.
The dispute over the strategy of the German chemical distributor shows that after a period of relative calm during the corona pandemic, attacks by activist shareholders are picking up speed again.
In addition to Great Britain, Germany is one of the preferred destinations in Europe, while the USA is showing a decline. There were 69 new campaigns worldwide in the first quarter, after 65 in the fourth quarter of last year. A record was set in Europe with 21 campaigns – 38 percent of which were from British and 33 percent from German companies. This emerges from an analysis by the investment bank Lazard.
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