As covered in Street Talk, Merlon – an AMP shareholder – “has taken strong exception to the financial services company's board and its decision to sell its wealth protection and mature business units”. The fund manager describes the sale of AMP’s life insurance business as a “value destroying” deal.
Street Talk Journalists Sarah Thompson and Anthony McDonald wrote: “It looks like the start of a wider campaign and one that could snowball quickly should Merlon, which owns 25 million AMP shares, get public and private support from some bigger institutional investors”.
ABL has recently been involved in a number of public, high-profile activist campaigns including Aware Water Pty Ltd vs Blue Sky Alternative Access Fund Ltd; Premier Investments vs Myer; Dr Gary Weiss & Ariadne Australia vs Ardent Leisure Group; Halom Investments vs MMA Offshore and Sandon Capital vs Speciality Fashion.
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