Aryzta shareholders agitating for a radical board shake up say an emergency general meeting (EGM) should go ahead next week despite a takeover bid. Aryzta confirmed on Thursday that the company is in advanced talks with US hedge fund Elliott about a potential public tender offer for the entire companyShareholders led by Swiss investor Veraison have been demanding a replacement of board members at Aryzta including chairman Gary McGann throughout the summer. Mr McGann said over the summer he would stand down if a deal had not been struck by the time of the EGM on September 16th. The Veraison led shareholders said it will be the duty of the board that emerges from the EGM to examine takeover offers and to evaluate the best alternatives for the company and all its shareholders. Online Editors

Source: Irish Independent September 10, 2020 22:18 UTC