Crystal Amber tries to force radical change at Sainsbury's in 60-page to-do list aimed at boosting value
Activist investor Crystal Amber is looking to force change at Sainsbury’s and flush out a bidder.
The firm has drawn up a 60-page to-do list outlining various strategies aimed at creating more value than the plan being pursued by the retailer’s board.
Crystal Amber, which routinely draws up similar documents for a host of potential targets, is not thought to have built a stake in Sainsbury’s and does not actually have any power. But it is keen to talk to other investors who might.
Change on the horizon? Activist investor Crystal Amber is looking to force change at Sainsbury’s and flush out a bidder
The Qatari sovereign wealth fund, which has a 26 per cent stake in the grocer, is regularly linked with ‘imminent bids’ by traders seeking to ramp the shares. But since the Qataris’ last failed approach back in 2007 nothing has materialised.
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