New York-based investment firm Sandell Asset Management has again pressured FirstGroup, the owner of Greyhound bus, to split the company and revamp its operations, Bloomberg reported.
Sandell Asset Management
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The following bids, mergers, acquisitions and disposals were reported on Wednesday, including Fortum, National Vision, Saipem, CTT, MTS, Southern Pacific, Warrnambool, Verbund, Bakkafrost, Popular and Marathon Oil.
UK-based FirstGroup said no to the proposal of hedge fund Sandell Asset Management to split the company and sell assets, saying the plan contained a number of structural flaws and inaccuracies, a Bloomberg report said.
A Financial Times report said activist investor Sandell Asset Management has written a letter to UK transport group FirstGroup to sell its US businesses so it can pay down debt.
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