Activist CIAM pens fresh letter to Euro Disney board
by Maiya Keidan
Activist investor CIAM has written to the board of Euro Disney objecting to plans by Walt Disney Co to take over the company, a letter seen with Reuters showed.
"The Walt Disney Company seeks to force out the remaining minority shareholders by offering them a new public offer, under penalty of having to undergo a strong dilution later," said the letter, dated March 6.
Walt Disney Co on Feb. 10 said it was offering investors 2 euros per share for Euro Disney's remaining shares, after it increased its holding to 85.7 percent.