The beaten down plane engine company, Rolls-Royce, has come around to Jeff Ubben and ValueAct Capital, now ready to give the activist investor a board seat.
ValueAct did a “good” enough job of convincing Rolls that it’s in it for the long-term. It’s a bit out of the norm to see a U.S. fund getting a FTSE company board seat, but ValueAct isn’t your typical fund. The fund owns 10% of Rolls.
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The likely board appointee will be ValueAct’s COO Brad Singer. He’s already been meeting with Rolls. The announcement will likely come before the May annual shareholder meeting.