Lagardere's Attempts to Block Progress Halted by French Court
NEW YORK, April 7 /PRNewswire/ -- Franco-American Financier and Activist Guy Wyser-Pratte announced today that the French Court had rejected Lagardere SCA's (MMB.PA) attempts to thwart progress at the Company by requiring that his shareholder proposals be published in the BALO for consideration at the Company's April 27th, 2010 AGM/EGM. This will allow Mr. Wyser-Pratte the right to put the future legal form of the company, currently a French limited partnership with shares, and his nomination as a director to a shareholder vote.
Mr. Wyser-Pratte commented: "I am very encouraged by the Court's decision, it will now be up to shareholders to decide the fate of their company and not the general partner owning less than one-tenth of Lagardere. I urge all shareholders to help us move the Company away from a legal structure that limits growth and toward one that provides opportunity to maximize value for all owners."
SOURCE Wyser-Pratte Management Co.
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