US raider Ed Bramson shunned in bid to wrest control of Electra

Michael Bow
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Electra rejected Ed Bramson's bid to take control of the private equity outfit
Hyper activist investor Ed Bramson was rebuffed by UK-listed private equity outfit Electra yesterday after swooping to take control of the company.

Bramson, who took over fund manager F&C in 2011 before slashing jobs at the group, took a 19 per cent stake in Electra earlier this year without declaring his intentions. Electra yesterday told the market that Bramson met the board last week and asked for three seats on the six-person board in a bid to lead a strategic review of the business.

“The board of Electra has carefully considered Mr Bramson’s request and has decided to reject it,” the firm said in a statement.

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