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Clearway Capital, an activist investor which purchased shares in Glanbia, stated that the meals and diet firm was buying and selling at an embarrassingly low valuation, and that it had by no means seen “a extra blatant instance of a damaged fairness story”.
The investor yesterday printed a 22-page letter it despatched to Donard Gaynor, Glanbia’s chairman, on April 19, outlining what it calls a highway map to create vital worth for Glanbia’s shareholders and to enhance its environmental footprint.
It made a robust attraction to Glanbia Co-Op shareholders to tackle board its options. The co-op is Glanbia’s greatest shareholder, proudly owning 32 per cent of the enterprise.
Clearway has stated that the Kilkenny-based firm, headed by Siobhán Talbot, needs to be buying and selling at €21.08 per share, greater than double
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