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Examples
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Lars Foerberg , founding partner of Cevian Capital, which holds roughly a roughly 10% stake in Demag, also said earlier this month he found the offer too low.
Terex Launches Hostile Bid for Demag Cranes Mary M. Lane 2011
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But Cevian is beginning to see more opportunities there.
Activists thrive 2008
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Many of the six-year-old firm's investments have been in Scandinavia, a part of the world famed U.S. activist Carl Icahn (a Cevian investor) calls "shareholder paradise."
Activists thrive 2008
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Other gainers included Munich Re, which climbed 5.2% after Cevian Capital, a Swedish investment group backed by Carl Icahn, bought a stake of nearly 3%.
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The stake in Munich Re is its first disclosed German investment, but Mr. Foerberg said Cevian has other German assets among its portfolio, though he didn't identify them.
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"We have a long-term ambition to be a constructive owner in Munich Re," Cevian partner Lars Foerberg said in an interview, adding that the fund made the investment recently.
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He said Cevian seeks "a constructive and good dialogue with the management" but declined to comment on what improvements it could have in mind for Munich Re.
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Demag first sold stock to the public in 2006, and its biggest shareholder is Cevian Capital, a Swedish fund founded by activist investor Christer Gardell.
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Cevian Capital II Master Fund L.P. 7,440,060 shares and votes or 4.94% of share capital and votes
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Earlier this year he was appointed UK chairman of Cevian Capital, Europe's largest activist fund manager.
The Guardian World News Simon Bowers 2011
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