Citigroup, ValueAct Capital Extend Pact Through End of 2021
December 19 2019 - 9:17AM
Dow Jones News
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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