Elliott calls for shareholder vote on Uniper domination agreement
Reuters
Published Mar 21, 2019 07:21
Elliott calls for shareholder vote on Uniper domination agreement
FRANKFURT (Reuters) - Activist investor Elliott has called for a shareholder vote to instruct German utility Uniper's management to enter negotiations with top investor Fortum over a domination agreement.
Elliott, Uniper's second-largest shareholder with 17.84 percent, wants its motion to be discussed at the group's next annual general meeting on May 22, it said, adding that it would otherwise ask for an extraordinary general meeting.
Its proposal comes a month after Uniper and Fortum announced fresh cooperation talks in an attempt to repair their relationship, which has been strained ever since the Finnish state-owned group launched its hostile takeover attempt in 2017.
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Written By: Reuters
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