Bollore Boosts Aegis Stake To Less Than 1% Of Takeover Threshold
May 25, 2006, 8:00 AM
French financier Vincent Bollore Wednesday raised his stake in U.K.-based Aegis Group to 29.1 percent, bringing him to less than 1 percentage point of the 30 percent threshold that would require him to make a bid to acquire the company under British law. Wednesday originally was the day Aegis was scheduled to hold its annual shareholders meeting, but the agency holding company's board rescheduled that meeting to June 14 to give shareholders time to consider Bollore's effort to nominate directors to the Aegis board, which some see as a prelude to a takeover of the company. The Aegis board urged shareholders to reject Bollore's nominations. Bollore undertook a similar path last year when he engineered the takeover of Paris-based Havas.