Hedge Fund News From HedgeCo.Net

US Investor Urges First Group to Split and Pull Out of ‘Destructive’ UK Rail Network

(City A.M) Activist hedge fund Coast Capital has issued a list of demands against First Group, including that it pull out of Britain’s railways, split its UK and US assets and overhaul its board. Coast, a top ten shareholder in First, has said the group should separate its US assets, which it claims have a “much higher independent valuation” than its UK assets, to generate £3bn in capital that could be used for reinvestment, debt reduction and pension top-ups.

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