April 11, 2018 / 11:19 AM / a year ago

Investor CIAM pushes for shareholder vote on Ahold takeover defence

AMSTERDAM, April 11 (Reuters) - Investment fund CIAM on Wednesday called for Dutch-Belgian supermarket retailer Ahold Delhaize to allow a shareholder vote on whether to maintain a takeover defence that is set to expire in December.

Ahold argues it has the right to maintain the defence, which gives an independent body the right to issue shares, without shareholder approval.

Fund co-founder Catherine Berjal told Reuters in an interview ahead of Ahold’s annual meeting that if the company declines, she will ask a judge at Amsterdam’s Enterprise Chamber to call an extraordinary shareholders’ meeting to vote on the matter anyway.

Reporting by Toby Sterling; Editing by Susan Fenton

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