Print Published 29th Nov 2018, 08:37

US fund manager seeks changes at MDC Partners

FrontFour Capital Group has acquired over 5% of the share capital of the heavily borrowed loss-making Canadian marketing group MDC Partners and is agitating for action to “create shareholder value” and to change the board membership.

FrontFour Capital is a Connecticut based fund manager that says it has been engaged in communications with MDC’s management team and board of directors since August 2018 in an attempt to “constructively outline a strategy that would result in the replacement of Scott L Kauffman as chief executive officer with a candidate better suited to leverage the strength of the issuer’s agencies and grow the issuer’s market share in key industries”.