Scottish Investment Trust Agitator Makes 'Good Gain' On Stake

Summary

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ARBITRAGEUR Bruno Sangle-Ferrire, who led an attack on the [GBP]1.1bn Scottish Investment Trust, yesterday declared a "good gain" on a 10.6percent stake he will sell into a tender offer which will slash SIT's scale by up to [GBP]440m.

He described the tender offer by SIT for up to 40percent of its shares, which the trust claimed was the board's decision but which followed heavy stakebuilding by himself and fellow arbitrageur Lars Bader, as "great".

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Scottish Investment Trust Agitator Makes 'Good Gain' On Stake

Sangle-Ferrire has pledged irrevocably to support the SIT scheme and to tender the entire 10.6percent stake o...

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