The Icelandic shareholder wins
The question 
As an Icelandic company we have a small interest in Stork and we are keen to take over the Food Systems division. How can we announce this in a careful way, without being portrayed as a hedge fund and becoming involved in the conflict about the strategy to be pursued between the board of the company and the shareholders?
The answer 
Explain in an open and honest way what you want. But do this now, directly, through an exclusive interview in Het Financieele Dagblad, was our advice in October 2006, when the dispute between Stork and the two hedge funds became manifest in the media. Make it absolutely clear that you are not a hedge fund but that, as Marel, you are not looking to make a quick profit, that as an industrial concern you want to take over Food Systems. Refrain from making any comments about what the other parties are doing.
The result
The interview took place the following day and the plans of the Icelandic company Marel were announced to a broad public. Then there was silence and we kept the company informed on a daily basis about important developments at Stork and in the Dutch media. At the same time, an interest of more than 40% was gradually acquired in Stork. Where necessary Marel’s good intentions were explained to journalists. Only during a crucial shareholders’ meeting in the summer of 2007 did Marel once again make an explicit announcement. Stork could no longer get around Marel. There was no point in making Marel out to be a hedge fund. In early 2008 the Food Systems division became part of Marel.
