DST Systems’ largest shareholder accused the company of “strategic mistakes” and wants changes in company operations and its own candidates selected for two board seats.
DST is one of the Kansas City area’s largest publicly traded companies with thousands of local employees and a meaningful role in the city’s real estate scene. DST said success for the shareholder’s “public campaign” would come “at the expense of the company and all other DST shareholders.”
Analysts agreed that the emerging battle could reshuffle DST’s mix of businesses and investments, as well as remove some of its best defenses against a hostile takeover.
The call for change comes from an investor group involving California billionaire George Argyros, whose family, businesses and trusts own 21.8 percent of the financial services company.