Apr
21
Vivendi, Under Pressure From Hedge Fund, Increases Payout
ByVivendi, the French media conglomerate, said on Wednesday that it planned to raise the amount of money it will pay to shareholders, settling a fight with the American hedge fund P. Schoenfeld Asset Management.
The move settles an unusual challenge by a United States investor against one of France’s top companies. The hedge fund, commonly known as PSAM, has pressed Vivendi for bigger payouts and the sale of the Universal Music Group.
Until Wednesday, it appeared the two sides were headed toward a showdown at Vivendi’s next shareholder meeting, scheduled for April 17…
Vivendi, Under Pressure From Hedge Fund, Increases Payout
