On Monday, the Financial Times reported that M&G Investments and two other shareholders would vote against Hyve PLC’s (HYVE.L) acquisition deal, believing it undervalues the worldwide exhibition firm.
The article also said Redwheel fund manager David Stewart and Blackmoor Investment Partners managing partner Douglas Smith would vote against the acquisition.
This month, U.S. investment group Providence Equity suggested a cash offer of 108 pence per share to acquire Hyve, valuing the company at 320 million pounds ($392.83 million).
Refinitiv lists Hyve’s top 20 shareholders as M&G, Redwheel, and Blackmoor.
Hyve, Providence Equity, M&G, Redwheel, and Blackmoor did not immediately reply to Reuters requests for comment.
