Ex-Borse Chief Writes Book Detailing His May 2005 Ouster

Dec 8 2005 | 5:06pm ET

Werner Seifert, former chief executive of Deutsche Börse, is reportedly close to finishing his book, “Invasion of the Locusts: Intrigues, Power Battles and Market Manipulation.”

According to European newspaper reports, insiders in the Deutsche Börse believe that the book may violate the terms of Seifert’s €10 million ($11.8 million) pay-off.

Seifert was toppled as head of the German exchange in May, just six months after launching a takeover bid for the London Stock Exchange, which met with major opposition from shareholders.

According to sources familiar with the book project, the tome details the battle to oust Seifert and his confrontational relationship with London-based hedge fund TCI, a leader in the shareholder rebellion. It also gives a broader critical analysis of the rise of activist investors and the consequences Seifert believes this trend will have for both German companies and firms world-wide. 


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