The fate of the Restaurant Group’s controversial £559m takeover of the Wagamama chain will be decided this week amid signs that the deal will win backing from shareholders, albeit by a slender margin.
The acquisition, together with the £315m rights issue to fund it, have divided opinion and investors on both sides have lined up to give their views before Wednesday’s vote, which requires a simple majority.
Those publicly opposing the deal so far include the Chicago-based Grizzly Rock Capital and Vivaldi Asset Management, speaking for a combined 1.9% of the company; Columbia Threadneedle Investments, with 7.7%; and Sanford DeLand Asset Management, which has 1.7%.
