Activist hedge fund Sachem Head Capital Management has written a letter to communications infrastructure provider Zayo Group Holdings urging it to explore a sale, according to people familiar with the matter.
The letter, sent to the company this week, comes after Zayo has rejected acquisition offers from a private equity consortium including Blackstone Group LP and Stonepeak Infrastructure Partners LP, the sources added, asking not to be named because the matter is private.
Sachem Head has not threatened to launch a proxy fight but that option remains on the table, the people said.
Sachem Head declined to comment. Zayo could not be reached for comment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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