News Column

US raider Bramson shunned in bid to wrest control of Electra

July 30, 2014


HYPER ACTIVIST investor Ed Bramson was rebuffed by UK-listed private equity outfit Electra yesterday after swooping to take control of the company.

Bramson, who took over fund manager F&C in 2011 before slashing jobs at the group, took a 19 per cent stake in Electra earlier this year without declaring his intentions. Electra yesterday told the market that Bramson met the board last week and asked for three seats on the sixperson board in a bid to lead a strategic review of the business.

"The board of Electra has carefully considered Mr Bramson's request and has decided to reject it," the firm said in a statement.

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Source: City A.M. (UK)

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