Court Rules In Favor Of Lagardere In Battle Against Amber And Vivendi

A French court ruled against a request by activist shareholders Amber Capital and Vivendi, which own about 46% of Lagardere’s shares, to hold a special meeting at the company. The duo teamed up to seek a board and management overhaul at the media conglomerate, disgruntled about how the business is being run by Arnaud Lagardere.Q3 2020 hedge fund letters, conferences and moreLagardere’s Opposition To The Special Meeting RequestThe investors sought four board seats, including one for Amber’s founder Joseph Oughourlian, and targeted Chairman Patrick Valroff and another two directors for removal. …

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HEDGE accordingly