An attempt by the investment fund Alliance Trust to put an end to years of turbulence will face protests from shareholders this week over alleged ­favouritism and conflicts of interest.
The Dundee-based company has asked investors to approve a £620m buyback deal with the aggressive US activist investor Elliott Management, which holds nearly a fifth of its shares. Alliance aims to buy back the shares in five tranches, allowing Elliott to cash in its stake more easily and ending its running battles with the board.