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Exclusive: Investor Gatemore pushes for break-up of logistics firm Wincanton

Reuters  |  LONDON 

By Ben MartinLONDON (Reuters) - Gatemore Capital Management has built a stake in Wincanton and called on the British logistics company to break itself up by selling one of its two divisions, according to a letter sent by Gatemore to its own investors.The asset management firm, which often pursues activist campaigns at companies where it has bought shares, said in the letter it had built a 2 percent stake in Wincanton. Gatemore believes the company, which has a market capitalisation of about 284 million pounds ($406 million), is "a sleeping giant whose intrinsic value is underestimated by the ...

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First Published: Mon, April 16 2018. 17:08 IST