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’G4SISS RIP
Is this the final nail in the coffin for the G4s/ISS deal?
Statement from Harris Associates.
In a word, yes.
Harris (4.9 per cent) is the third biggest shareholder in G4s and it’s difficult (in fact almost impossible) to see the highly ambitious £5.2bn deal being voted through at Wednesday’s EGM without the support of the influential Herro.
The curious case of the JJB cash call [updated and explained]
If Wednesday’s cash call from Commerzbank is mind-numbingly complex, then the latest fund raise from JJB Sports, the struggling sports retailer, is downright odd.
First, let’s consider the fees.
JJB is raising £65m of which £5m will be paid out in fees,
Carpetright: Harris blocks Harris
Harris Associates, the US fund manager that helped oust Lord Saatchi from the advertising group he founded, is looking to block Carpetright’s £850m management buy-out. Lord Harris, Carpetright’s founder,
Weekend catch-up: UBS/Harris, EMI, TPG/Ford
In case you missed these stories..
US activist builds secret $1bn UBS stake
Harris Associates, a leading US activist fund, has secretly built a $1bn stake representing 1 per cent in UBS, reported The Sunday Times.
Investors reject Citigroup’s $13.4bn bid for Nikko Cordial
The largest shareholder in Nikko Cordial has rejected Citigroup’s increased $13.4bn bid for Japan’s third largest broker. Harris Associates, the Chicago-based manager that owns 7.5 per cent of Nikko, said Citigroup’s offer of Y1,700 a share was still too low and Nikko Cordial was worth at least Y2,000.