Bollore, who is also chairman of Paris-based rival Havas, recently raised his stake in Aegis to 27.56 percent, near the threshold required to mount a formal takeover, and has begun intimating that he has more than a passive investment interest in the company. Bollore, known as a French corporate raider, mounted a similar takeover of Havas last year, incrementally boosting his stake, and ultimately securing seats on the holding company's board, of which he is now chairman.
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In its statement, the Aegis board said it "believes that all Aegis shareholders should be given the opportunity to express their views and will therefore put forward resolutions for shareholders to vote on at the forthcoming annual general meeting," and that it elected to delay the shareholders meeting to give them "adequate time to consider and vote on all resolutions to discuss the nominations put forward by Groupe Bollore."
The Aegis board urged the company's shareholders to vote against Bollore's nomination, claiming it represents "fundamental conflicts of interest," noting that:
Aegis is the parent company of media agencies such as Carat, Vizeum, Isobar and Posterscope, and also owns considerable research operations.