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Activist CIAM pens fresh letter to Euro Disney board
March 14, 2017 / 9:28 AM / 9 months ago

Activist CIAM pens fresh letter to Euro Disney board

LONDON, March 14 (Reuters) - Activist investor CIAM has written to the board of Euro Disney objecting to plans by Walt Disney Co to take over the company, a letter seen with Reuters showed.

“The Walt Disney Company seeks to force out the remaining minority shareholders by offering them a new public offer, under penalty of having to undergo a strong dilution later,” said the letter, dated March 6.

Walt Disney Co on Feb. 10 said it was offering investors 2 euros per share for Euro Disney’s remaining shares, after it increased its holding to 85.7 percent. (Reporting by Maiya Keidan; editing by Simon Jessop)

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