US Fund Dalton Starts Proxy Fight Over Fuji Media Board With Real Estate Plan; Motherson Proposes Marelli Buy Amid Restructuring

Dalton, a US investment fund, is initiating a proxy fight over the board of Fuji Media Holdings, aiming to influence the selection of the company's management. The fund has described the shareholder meeting as akin to an election and has no plans to collect proxy votes. Dalton is also explaining a plan to separate Fuji Media's real estate assets to gain shareholder support for its proxy battle. Meanwhile, in the automotive sector, Indian auto parts manufacturer Motherson has made a proposal to acquire Marelli, an auto supplier owned by KKR. Marelli is expected to enter private restructuring talks as early as May 26. Additionally, the Toyota Group plans to launch a tender offer for Toyota Industries in November, with advisory firm Glass Lewis endorsing the re-election of Toyota's chairman.