Suez/Knight Vinke Heroic resistance

Knight Vinke has called off its heroic resistance to Suez. The Monaco-based activist investor started buying its 0.8% stake in the French utility three years ago when the shares stood at E16.75. It has been a thorn in the side of Suez’s management ever since. Knight Vinke scored some notable successes, particularly in 2005 when it persuaded Suez to buy out the minority investors in Electrabel, its 50% -owned Belgian subsidiary. But it hasn’t yet succeeded in its more recent demands for a break-...