Shareholders, led by the ASX-listed Global Value Fund, have upped the ante in their battle against one of the world’s most feared activist investors Nelson Peltz.
A group of dissident shareholders has alleged that the board of Nelson Peltz’s London listed investment fund has been captured, and not acting in their interest, in an increasingly hostile fight with the famed activist investor.ASX-listed Global Value Fund,They are seeking to remove and replace three of the four board members, claiming the directors sanctioned changes to the investment mandate that has delayed the return of capital.
In that notice of meeting, the board said it had acted with “integrity at all times” as it defended the track record of Trian Investors 1 under Mr Peltz. It also resulted in the fund taking a $50 million position in Anglo Dutch consumer goods giant Unilever, which has since announced it will appoint Mr Peltz to the board.
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