Firstgroup’s board has explained how it plans to boost shareholder returns in the face of a renewed call for the business to be broken up.
In a ‘White Paper’ explaining its proposals, Sandell Asset Management, which owns 3.1% of FirstGroup’s shares, questions the competence of FirstGroup’s senior management and compares the company unfavourably with Stagecoach.
FirstGroup chief executive Tim O’Toole this week led the board’s fightback at an...
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