Lonrho talks with JCI could spark revolt
Friday 23 January 1998
However, it emerged yesterday that the move could prompt a shareholder revolt. A spokesman for Tiny Rowland, the former head of Lonrho and an outspoken critic of its performance, said yesterday: "Many institutional shareholders are unhappy with Lonrho. They could block this deal if they cannot see any enhancement of shareholder value."
Some of JCI's largest shareholders are also believed to be concerned about its plan to swap gold assets for the 26 per cent stake in Lonrho.
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