Activist investor Paulson raises stake in Britain's Premier Foods
01/02/2019 10:55
Feb 1 (Reuters) - Paulson & Co, the hedge fund firm led by
billionaire investor John Paulson, has upped its overall
interest in Britain's Premier Foods Plc PFD.L to 11.9 percent,
a regulatory filing https://reut.rs/2WyWn6J showed on Friday.
The activist investor's move comes a little over two months
after the Bisto gravy and Oxo-cube maker said Chief Executive
Officer Gavin Darby would be stepping down, following a
shareholder revolt, led by activist hedge fund Oasis Management,
that called for a management overhaul. urn:newsml:reuters.com:*:nL4N1XO2WD
Darby stepped down as CEO on Jan. 31, 2019.
Paulson had urged Premier Foods to replace its top boss last
year. Some investors had lined up against Darby, blaming him for
a failed takeover bid by U.S. spice maker McCormick & Company
Inc MKC.N in 2016. urn:newsml:reuters.com:*:nL8N1U534I
Japan's Nissin Foods Holdings Co Ltd 2897.T is the largest
shareholder in the Mr Kipling cakes maker with a stake of 19.6
percent, according to Refinitiv Eikon data.
(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shailesh
Kuber)
((tanishaa.nadkar@thomsonreuters.com; Within UK +44 20 7542
1810; Outside UK +91 80 6749 1691; Reuters Messaging:
tanishaa.nadkar.thomsonreuters.com@reuters.net))