Laxey Partners, specialist investment trust arbitrageurs, has acquired 18% voting rights on the Gart...
Laxey Partners, specialist investment trust arbitrageurs, has acquired 18% voting rights on the Gartmore Select Japanese trust. Laxey hit the headlines in September when it forced the £134.4m Baring Emerging Europe Trust to give in to its demands for a reconstruction to allow it a cash exit at close to NAV. Among Laxey's other holdings are a 13% plus stake in the Aberdeen-managed £7.5m Murray TMT investment trust and a 15% plus stake in the £27.7m Legg Mason Investors Enterprise investment trust. Gartmore said it did not view Laxey's move as a threat to the £11.6m trust.
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