Activist Converium pushes UK's CVS to improve performance, FT reports
13/05/2026 06:44
May 13 (Reuters) - British veterinary care group CVS CVSG.L is facing pressure from activist hedge fund Converium Capital to improve its performance after competition regulators concluded a probe into high prices in the sector, the Financial Times reported on Wednesday. The UK's Competition and Markets Authority (CMA), in March, wrapped up a multi-year investigation into the vet industry, imposing reforms that included price transparency measures and caps on prescription fees. Here are some details from the FT report: Converium has a roughly 2% stake in CVS It could seek board representation if CVS Group fails to act on its demands, Converium has warned Montreal-based fund has called on CVS to launch a 100 million pound ($135.41 million) stock buyback Converium has previously targeted UK estate agent FoxtonsFOXT.L, where it pushed for changes including a potential sale of the business, though unsuccessfully. CVS and Converium did not immediately respond to a Reuters' request for comment. ($1 = 0.7385 pounds) (Reporting by Ankita Bora in Bengaluru; Editing by Harikrishnan Nair) ((Ankita.Bora@thomsonreuters.com;))