Village Roadshow is pushing ahead with a deal for a takeover by private equity firm BGH Capital, despite aggressive protests and an appeal to the corporate regulator to step in from the cinema and theme park's largest independent shareholder.
On Tuesday, New York-based funds manager Mittleman Brothers increased its shareholding in Village to 10.1 per cent and delivered a scathing assessment of the two proposed schemes of arrangement put forward and recommended by Village Roadshow's independent board committee.
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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
