Rolls-Royce: ValueAct Ups Stake To 10 PercentRupert Hargreaves
Jeff Ubben's ValueAct Capital has upped its stake in embattled UK aero-engine maker Rolls-Royce to 10% after the company issued yet another profit warning last week.
Rolls-Royce’s latest profit warning was its fifth in 20 months, and the company's shares fell 20% after the update hit the market. The group warned that 2016 earnings would be £650 million below expectations due to unforeseen "headwinds".
The company's shares have fallen 46% during the past six months.
Rolls-Royce . . .
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