Bumi, Bakrie to Fight Rothschild’s Bid to Return to Board

Bloomberg reported that Bumi Plc Chairman Samin Tan and the Bakrie Group are taking action to fight a bid from founder Nathaniel Rothschild to return to his spot on the board.

As quoted in the market report:

The Bakries said in a separate statement they have the right to nominate Bumi’s chairman, chief executive officer and chief financial officer under the terms of the original $3 billion deal struck in 2010. They also threatened to withdraw support for a plan to exit their investment in the group.

To view the whole Bloomberg report, click here.