P. Schoenfeld Asset Management

Decision day for Vivendi as Bolloré pushes for double voting rights

Vivendi chairman Vincent Bolloré is set to discover today whether he will secure enough votes to double his voting rights within the company under France’s Florange law. Bolloré has built up his position in the company over the last two months and now holds 14.5% of the company’s shares, up from 5.15% at the beginning […]

Bolloré ups stake in Vivendi as De Puyfontaine plays down Sky rumours

Vivendi chairman Vincent Bolloré has again upped his stake in the company, raising his shareholding from 12.01% to 14.52% by investing about €800 million. The move is the third by Bolloré to raise his holding in the last two weeks and the fourth since the beginning of March.  Bolloré’s holding in Vivendi is now worth […]

Vivendi agrees extra dividend and makes peace with hedge fund

Vivendi and activist hedge fund P. Schoenfeld Asset Management have settled their dispute over Vivendi’s cash return policies, with the French media giant agreeing to pay out approximately €6.75 billion to shareholders thanks to an exceptional dividend. Schoenfeld for its part has agreed to accept Vivendi’s core media strategy, abandoning its call for the sale […]

Canal+ chief weighs in to Vivendi dispute

Canal+ CEO Bertrand Meheut has weighed in to the dispute between parent company Vivendi and one of its shareholders, P. Schoenfeld Asset Management, over the company’s cash policies and future strategic direction.  In remarks widely reported in the French press, Meheut said that according to the logic of so-called activist investors of this type, which […]

Vivendi and US shareholder trade blows as battle intensifies

The fast-developing battle between Vivendi and one of its shareholders over the company’s cash policies and strategy has taken a new turn following a warning from Vivendi’s management that US activist hedge fund P. Schoenfeld Asset Management could be in breach of French law concerning a 20% threshold on action by foreign investors.  Under a […]

Vivendi calls for rejection of move to force it to return more cash

Vivendi is to put requests from US activist hedge fund P. Schoenfeld Asset Management to increase the amount of cash to be returned to shareholders for the 2014 financial year and to reject compliance with France’s so-called Florange law, designed to protect employees in the case of takeovers, to its shareholders meeting next month. However, the […]

Vivendi hits back after hedge fund move

Vivendi has hit back following an attack on its strategy by hedge fund P. Schoenfeld Asset Management demanding that it return €9 billion in cash to shareholders as a special dividend, a move first reported by the Financial Times.  The hedge fund, which holds under 1% of Vivendi’s stock, said that the company was undervalued […]