Monday, December 28, 2015
Ferrari Shareholders Move to Fend Off Unwanted Suitors
Ferrari is about to be spun off from Fiat Chrysler Automobiles, so major Ferrari shareholders are taking action to protect their company. Its two largest investors have signed a shareholders’ pact that will protect it from any unwanted suitors.
The two groups announced their intent to sign such an aggreement previously, but they hadn’t released any details. Signing the pact means that Exor and Piero Ferrari will discuss what to do ahead of any shareholder meetings so that they’re in aggreement about the company’s direction. It goes beyond discussing plans for the future and also includes stipulations about how their stock may be sold.