4 Sep

Break-up for National Express looms as Elliott gains support

first_img whatsapp Break-up for National Express looms as Elliott gains support KCS-content TRANSPORT Group National Express edged closer to being broken up yesterday after an activist investor claimed a crucial shareholder supported its cause. Hedge fund Elliott Advisors, now the largest shareholder with 17.5 per cent of National Express, said it expected second-biggest investor the Cosmen family to vote for its bid to add three new directors to the board.The Cosmens, who sold the Alsa bus company to National Express in 2005, have not spoken publicly in favour of either side, but Jorge Cosmen, the group’s deputy chairman, has effectively been a signatory to the board’s opposition to Elliott.“Elliott has had a number of discussions with representatives of the Cosmen family in relation to its proposals to appoint three new directors to the board,” Elliott’s statement said.“Based on those discussions, Elliott expects that the Cosmen family and its nominees will vote their shares in favour of the resolutions.”City A.M. has learned that Elliott will meet National Express shareholders in London this week. Based on last year’s annual vote it would need the support of just one more top ten shareholder to pass its proposals. The Cosmen family is likely to want to break up the group to regain control of its Spanish assets. Tags: NULL Tuesday 12 April 2011 8:06 pmcenter_img Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Show Comments ▼last_img

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