Activist investor Primestone takes stake in Tennant, urges merger with Nilfisk

Nilfisk Holding A/S

13/12/2017 14:51

COPENHAGEN, Dec 13 (Reuters) - Activist hedge fund 
Primestone Capital has asked U.S. cleaning equipment company 
Tennant  TNC.N  and Danish peer Nilfisk  NLFSK.CO  to consider 
merging after building up a holding of 5 percent in both firms. 
    "Primestone Capital owns more than 5 percent of both Tennant 
and Nilfisk and believes a combination of the two will generate 
extraordinary returns for shareholders," said the London-based 
activist firm in a presentation filed with the U.S. Securities 
and Exchange Commission on Wednesday.  urn:newsml:reuters.com:*:nFWN1OD0SH  
    Nilfisk and Tennant were not immediately available to 
comment. 
     
 
 (Reporting by Stine Jacobsen, additional reporting by Maiya 
Keidan, editing by Louise Heavens) 
 ((stine.jacobsen@thomsonreuters.com; +45 21 56 90 10; Reuters 
Messaging: stine.jacobsen.thomsonreuters.com@reuters.net)) 
 
Keywords: TENNANT NILFISK HOLDING/HEDGEFUNDS