Paul Singer’s firm Elliott Management is in “advanced talks” about a potential acquisition of Aryzta. Photo: Remy Steinegger/World Economic Forum

Endgame? The inside story of Aryzta and the “world’s most feared investor”

The Swiss-Irish baked goods multinational is now in takeover negotiations with Elliott Management, a $41 billion New York investment firm. How does this play into today's EGM called by disgruntled shareholders, where Chairman Gary McGann's chosen successor has just withdrawn his candidacy?

16th Sep, 2020 - 12 min read

Paul Singer likes to get what he wants. The 76-year-old New York investor now considering a bid for Aryzta trained as a psychologist and a lawyer, and has used both skills to amass a $3.6 billion fortune, according to Forbes. Much of this arose from his investment in Argentinian government bonds. When the South American country defaulted in 2001, instead of cutting a deal, Singer took Argentina to court – for 15 years. His firm eventually received $2.4 billion.

Three years ago, Bloomberg dubbed Singer “the world’s most feared investor”. He started his hedge fund firm Elliott, which carries his middle name, with $1.3 million in 1977. The firm...

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