Aryzta sale is ‘more realistic’ outcome for company, say analysts
Shareholders to vote tomorrow on a raft of board changes after proposed new chairman withdraws candidacy
The takeover of Aryzta by Elliot Management, the American hedge fund, is a “more realistic” outcome than a slow turnaround by activist investors, according to analysts.
The view, published today by analysts from German bank Baader Helvea, comes on the news that Andreas Schmidt, who was the board’s choice as new chairman to replace Gary McGann, has withdrawn his candidacy ahead of tomorrow’s extraordinary general meeting.
Aryzta, which has...
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