Scor boss Kessler accuses shareholder of deception
Scor chief executive Denis Kessler has labelled an activist shareholder pushing for a Covea takeover as ‘deceptive’.
Kesler is fiercely resisting Covea on its 8.2 billion euro ($9.65 billion) takeover offer.
One of Scor’s shareholder’s, CIAM, threatened legal action unless Kessler backs down and comes to the table with Covea to discuss their offer.
“Your accusations are baseless, misleading and deceptive,” Kessler said in a letter responding to Catherine Berjal, CIAM’s president, according to Reuters.
Kesler said he was acting on behalf of long-term shareholders, not short-term speculators like CIAM.
The angry exchange is the latest in a string of defences put forward by Kessler.
At the Monte Carlo Rendez-Vous earlier this month, Kessler told journalists Scor was doing well as independent and was not a troubled company needing help from a takeover.
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