Investing.com -- Activist investor Palliser Capital has acquired a nearly 5% stake in British travel retailer WH Smith, according to a Sky News report on Thursday.
Palliser Capital, a London-based investment firm, plans to examine WH Smith’s leverage targets and capital allocation policy with the aim of improving returns for shareholders, the report said. The stake could be valued at approximately £65 million ($88.27 million).
Palliser has recently been involved in other activist campaigns. The firm led an unsuccessful effort to convince mining company Rio Tinto (NYSE:RIO) to abandon its dual-listed structure in favor of establishing a primary listing in Australia.