Guardian – Alliance Trust is facing a new battle over strategy and governance as activist hedge fund Elliott Advisors pushes for the appointment of three new directors to the board of the Dundee-based investment group.
Elliott, which owns 12% of Alliance’s stock, has written to fellow shareholders calling on them to back the election of the independent non-executives at the firm’s annual shareholding meeting on 29 April after its attempts to discuss “matters of corporate governance and business concern” had “not been met with any meaningful response”.
