M&G Investment Management holds 11,834,166 Methanex common shares, representing 15.30% of the company’s 77,364,263 outstanding shares. For investors, M&G says it may pursue discussions or proposals involving governance, Capital allocation, operations and strategic direction as it reviews the investment on a continuing basis.

Key Highlights

  • M&G Investment Management holds 11,834,166 Methanex common shares, representing 15.30% of the outstanding shares.
  • The investment manager says the common stock was undervalued when purchased.
  • M&G expects to continue discussions with Methanex management, directors and other market participants.

Methanex Corp (NASDAQ: MEOH) is the subject of an activist position by M&G Investment Management Limited, which holds 11,834,166 common shares, or 15.30% of the company’s 77,364,263 outstanding shares. M&G says it bought the stock in the ordinary course of investment activity after deciding it represented an attractive opportunity.

M&G Holds Sole Voting and Investment Authority

The position was reported through a Schedule 13D/A dated Sep11, covering common stock as of Sep10. M&G Investment Management Limited is incorporated in England and Wales and has its principal Business office in London. The purchase funds came from MAGIM’s investment capital.

Potential Proposals Span Governance and Strategy

M&G expects to continue discussions with Methanex management, the board, shareholders, analysts, strategic partners, competitors and other parties. M&G says it will keep reviewing the investment. Depending on discussions, Methanex’s financial position and results, management and board actions, market conditions and other factors, it may propose operational, governance or Capitalization changes, buy or sell securities, use financial instruments to alter its economic exposure, or change its intentions.