Shareholder advisory group backs activist in Alliance Trust spat

April 14, 2015 8:58 AM

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LONDON, April 14 (Reuters) - Alliance Trust investors should back a plan to install three new non-executive directors on the board put forward by activist investor Elliott Advisors, a leading shareholder vote advisory group said on Tuesday.

Pensions & Investment Research Consultants Ltd (PIRC) said Elliott, Alliance Trust's biggest shareholder with a 12 percent stake, had hired an independent research firm to find appropriate candidates for the benefit of all investors.

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