In today’s briefing:
- Keisei Electric: Activists Arrive As Expected
Keisei Electric: Activists Arrive As Expected
- Just as we suspected earlier in the year, there is now talk of an impending investor activism campaign targeting Keisei Electric Railway Co (9009 JP).
- The activist is Palliser Capital, a multi-strategy fund based in London and run by former employees of Elliott Management, a company well-known for its activist campaigns in Japan.
- Their proposal is simple and straightforward, requesting for a 35% reduction in Keisei Electric’s Oriental Land holding.
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