Sherborne Investors’ sale of its 6% stake in Barclays has been a long time coming. Indeed, Edward Bramson’s presence as a shareholder ceased being a concern for the bank’s management and board some time ago.
But it would be wrong to say that the limited success of Bramson’s campaign to overhaul Barclays is proof that banks are immune from activist campaigns.
In fact, during the three years that Bramson was invested in Barclays, the financial sector – including some banks – has become a more common target for activists in Europe, and for good reason.
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