A Swiss activist investor is mounting a campaign to block Aryzta's €800m capital increase, arguing the troubled McDonald's bun maker should instead sell assets and slash management layers, according to two people familiar with the matter. A Swiss activist investor is mounting a campaign to block Aryzta's €800m capital increase, arguing the troubled McDonald's bun maker should instead sell assets and slash management layers, according to two people familiar with the matter. Aryzta stock has lost about three-quarters of its value this year as it tries to reduce a mounting debt load. The baked goods maker has been trying to sell its stake in Picard without success, and has made multiple profit warnings due to lost contracts and rising costs. He suggests Aryzta could also cut its tax bill by moving its headquarters from Zurich to another Swiss canton.

Source: Irish Independent September 14, 2018 01:30 UTC