Shareholder Revolt

It was supposed to be another megadeal, no questions asked. On Sept. 1, Fiat, Pirelli, Assicurazioni Generali, and the all-powerful Mediobanca announced that Gemina, an investment company under their control, would acquire the assets of the collapsed Ferruzzi empire. Overnight, Gemina would become Italy's second-largest conglomerate--with the Agnellis and other magnates calling the shots.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.