P. Schoenfeld Asset Management

Vivendi settles dispute with shareholder

Vivendi and activist hedge fund P. Schoenfeld Asset Management have settled their dispute over Vivendi’s cash return policies, with the French media giant agreeing to pay out approximately €6.75 billion (US$7.27 billion) to shareholders thanks to an exceptional dividend. Schoenfeld for its part has agreed to accept Vivendi’s core media strategy, abandoning its call for […]

Vivendi ‘eyes £28bn Sky takeover’

French media conglom Vivendi has been linked with a takeover of European pay TV giant Sky, in a deal that could be worth as much as £28 billion (US$41.8 billion). This would be part of a wider strategy to expand the reach of Vivendi’s own pay TV company, Canal+, according to three unnamed sources quoted […]

Vivendi fights back in shareholder spat

The fast-developing battle between Vivendi and one of its shareholders over the company’s cash policies and strategy has taken a new turn following a warning from Vivendi’s management that US activist hedge fund P. Schoenfeld Asset Management could be in breach of French law. Under a law dating from 1986, non-EU investors are barred from […]

Vivendi to put renegade investor call to s’holders

Vivendi is to put requests from an activist hedge fund calling for it ro increase the amount of cash returned to shareholders and to reject compliance with France’s so-called Florange law, to its shareholders next month. However, Canal+ owner Vivendi has strongly recommended that shareholders vote against the measures, which it says threatens its strategy […]