Since last week the French universal bank Société Générale owns 6.91% of Valéo, the French automotive parts manufacturer. Valéo has recently been fighting off Pardus Capital Management, which wants it to change its strategy to unlock more value for shareholders. Pardus owns 15.08% of Valéo's capital. The big question now is who will Société Générale support in the next stage of the skirmish: the Valéo management team or Pardus?
UPDATE on Monday June 4 : SocGen says that this was a trading error. The bank is now back down to less than the 5% threshold of share ownership in Valéo.
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