Activist Hedge Funds Push For Seats At IT Company

Jan 22 2008 | 10:02am ET

A pair of activist hedge funds have reiterated their demand for representation on French information technology company Atos Origin’s supervisory board.

London-based Centaurus Capital and New York’s Pardus Capital Management were rebuffed in November, when Atos rejected their demand for a pair of board seats. But they said on Friday that they will try again at the company’s next shareholders meeting, upping the ante.

In a filing with the French financial regulator, the Autorité des Marchés Financiers, the firms, which together own 20.67% of Atos, warned they may seek to take control over the company if it “persists in not taking into account the views of its main shareholders,” or “took measures against the social interests of Atos Origin.”


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