Sandell Surprised By Publicity Around FirstGroup Activism

When UK transport operator FirstGroup plc (LON:FGP) (OTCMKTS:FGROY) rejected Thomas Sandell’s demands to sell its stake in Greyhound and other US assets, he made his proposals public. But what seemed like a natural next step to him fit perfectly into stories about US hedge funds starting activist campaigns in Europe.

Sandell Asset Management has had 10 activist campaigns since 2010

“We were a little surprised by the volume of publicity,” said Sandell in an interview with Activist Insight. He explains that while he doesn’t see himself or his fund, Sandell Asset Management, as dedicated activists he is willing to take an activist stance when it fits into his overall strategy. Activist...