Sherborne acquires voting rights over 5.16 percent in Barclays
Reuters
Published Mar 19, 2018 07:59
Sherborne acquires voting rights over 5.16 percent in Barclays
LONDON (Reuters) - Barclays (L:BARC) said on Monday that entities controlled by activist investor Sherborne (L:SIGC) had acquired voting rights of 5.16 percent in the British bank's issued share capital.
"As with all its shareholders, Barclays will continue to engage with Sherborne, and welcomes them as a shareholder," Barclays said in a statement after the initial disclosure of the shareholding.
Activist investors have become a growing threat for large listed firms as they often use their minority shareholdings to push through major changes in company strategy.
Sherborne Investors, which describes itself as a turnaround investment firm on its website, raised 700 million pounds in an initial public offering last year.
The firm, led by Edward Bramson, forced British private equity firm Electra (L:ELTA) to fire its management team.
It was founded in 1986 and is involved in both private and publicly listed investments.
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Written By: Reuters
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