Update: Elliott publishes Alliance Trust correspondence as war of words escalates

Hedge fund Elliott Advisors has said it is "surprised and disappointed" by Alliance Trust's response to its proposals for a shake-up of the trust's board.

Alliance Trust had responded to Elliott's proposals earlier today by urging shareholders to vote against its plans to bring in three new directors. Elliott in turn has said it is "puzzled" the trust has reached its conclusion without meeting or speaking to the trio of candidates, saying the move follows "a pattern of non-engagement from the company". It later published its recent correspondence with the trust following a day in which the two firms continually hit back at one another. In a statement to the stock exchange at 07:00 GMT this morning, Alliance Trust had described Elliot...