Activist Amber Capital locks horns with Lagardere over lawsuit [Reuters]
SUEZ AMERICAN DEPOSITARY RECEIPTS - UNSPONSORED (SZEVY)
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Source: Reuters
Activist Amber Capital locks horns with Lagardere over lawsuit - Reuters 3 Min Read PARIS (Reuters) - Activist shareholder Amber Capital, which is being sued by Lagardere ( LAGA.PA ), said on Monday the lawsuit was baseless and it would continue to seek strategy and management changes at the French publishing group. Lagardere - whose businesses include publishing house Hachette and Relay news agents - said on Friday it was suing minority shareholder Amber and seeking 84 million euros ($93 million) in damages. It accused the fund, which also has a stake in French utility Suez, of leading a “destabilising campaign” and using smear tactics in the press, adding that these had hurt its share price. Deteriorating relations between the two come amid heightened sensitivity in France over the role of activist shareholders. U.S. hedge fund Elliott Management, one of the most prominent activist investors, took a stake in French drinks group Pernod Ricard ( PERP.PA ) last year, and other fund
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