Citigroup, ValueAct Capital Extend Pact Through End of 2021

Date : 12/19/2019 @ 2:17PM
Source : Dow Jones News
Stock : Citigroup Inc (C)
Quote : 78.79  0.0 (0.00%) @ 11:54AM
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Last $ 78.40 ▼ -0.39 (-0.49%)

Citigroup, ValueAct Capital Extend Pact Through End of 2021

Citigroup (NYSE:C)
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By Colin Kellaher

 

Citigroup Inc. (C) on Thursday said extended its information-sharing and engagement agreement with activist investor ValueAct Capital for two years, through the end of 2021.

The New York bank originally reached the agreement with ValueAct, one of its largest shareholders, in January after engaging in talks in early 2018.

The agreement gave the hedge fund access to confidential information and the ability to work directly with members of Citi's management team and board.

ValueAct holds a roughly 1.28% stake in Citigroup, according to FactSet.

Citigroup said ValueAct's representatives "have been adding real value and we expect they will continue to do so over the next two years."

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

December 19, 2019 09:02 ET (14:02 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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