“Activist” investor Elliott Capital Advisors has taken a 5.1% stake in Saga, just weeks after chief executive Lance Batchelor announced he would stand down in January.
The move, disclosed by Saga in a trading update on Wednesday (17 July), has sparked speculation in the consumer press Elliott could push to break up the historic travel group.
In a statement, cited by The Times, a Saga spokesperson said: “We have good and open relations with all our shareholders and expect to be in contact with Elliott shortly.”
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