A Citadel shareholder group began a proxy fight.
Los Angeles investor Alfred Roven and two firms that he controls, American Underwriters and Kenilworth Corp., said they have begun asking shareholders of Citadel Holding for their votes to change the savings and loan firm’s bylaws. Roven’s group holds a 9.1% stake in the parent of Fidelity Federal Savings & Loan of Glendale. The dissidents, who claim no interest in seizing control of the company, are seeking to eliminate anti-takeover measures adopted recently by Citadel management.
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