DCC stakeholder demands break-up

A US fund manager holding a stake in DCC has written to its management demanding measures to break up the Irish business services company, the Sunday Times newspaper reported.

ReachCapital, which has built a 1% stake in DCC on behalf of clients, said DCC shares were undervalued due to its “conglomerate” nature and the distraction caused by a share dealing case with fruit company Fyffes, the paper said.

The fund said it may explore “external alternatives” if the board does not take immediate steps to maximise shareholder value. The alternatives could include seeking support from other funds or soliciting buyers for the company’s assets.


Lifestyle

It couldn't be easier to add life to soil, says Peter Dowdall.It’s good to get your hands dirty in the garden

Kya deLongchamps sees Lucite as a clear winner for collectors.Vintage View: Lucite a clear winner for collectors

Their passion for the adventures of JK Rowling’s famous wizard cast a love spell on Cork couple Triona Horgan and Eoin Cronin.Wedding of the Week: Passion for Harry Potter cast spell on Cork couple

After in-depth explainers on Watergate and the Clinton affair in seasons one and two, respectively, Slate podcast Slow Burn took a left turn in its third season, leaving behind politics to look at the Tupac-Notorious BIG murders in the mid-1990s.Podcast Corner: Notorious killings feature in Slow Burn

More From The Irish Examiner