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Aegis Asks Investors to Reject Bollore Board Candidates

Published on June 09, 2006 | Email this article

Aegis made an announcement to shareholders today asking that they reject French financier Vincent Bollore’s demand for two seats on the board, Reuters writes. The company says Bollore’s candidates would have a conflict of interest, as Bollore is chairman of rival ad group Havas, and that no single minority should have such control over the company.

Bollore owns nearly 29 percent of Aegis; by U.K. rules, he must make a mandatory takeover bid if his holdings reach 30 percent.

Aegis is holding its annual general meeting June 14, at which time it will ask investors to vote on proposed resolutions.

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