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European family firms fall to activist investors

Shareholder activism in European companies reached record levels in 2017 and that trend has persisted

Alexandre Ricard, grandson of Paul Ricard and the head of French spirits and wine company Pernod-Ricard, is one of the activists' targets
Alexandre Ricard, grandson of Paul Ricard and the head of French spirits and wine company Pernod-Ricard, is one of the activists' targets Photo: Getty Images

It looks like no European company is safe from shareholder activists anymore.

Pernod Ricard became the latest target on Wednesday after US hedge fund Elliott Management said it had built a near-$1bn stake in the French drinks group and urged it to boost margins and improve its corporate governance.

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