Shares of the London-based company rose as much as 14% after a stock exchange filing showed Standard Latitude Master Fund Ltd. now controls 10% of voting rights attached to the UK group’s shares, via financial instruments.
“We note the increased shareholding, and communicate with Standard Latitude in line with ordinary course interactions we have with all our shareholders,” a spokesperson for Johnson Matthey said by email.Sebastian Bray, an analyst Berenberg, said the news “is likely to stoke speculation about whether the firm is following the WR Grace playbook, and could eventually make a play for all of Johnson Matthey.
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