Guy Wiser-Pratte, a US corporate raider, has increased his shareholding in Legris Industries from 6.91% to 10.18% and is seeking the appointment of a representative to the company’s board.
Legris is the parent company of leading tower crane manufacturer Potain which itself has been identified as a potential merger or acquisition candidate by other crane manufacturers including Manitowoc of the USA.
According to Les Echos newspaper, Wiser-Pratte said he had not plan to take control of the company but merely intended “to pursue his policy of buying or selling the company’s shares depending on how the market develops”.
Wiser-Pratte is not a new investor in Legris – he had a 5.5% share holding back in December 1998.
