Its being reported that the tensions between Laxey Partners, who have offices in Onchan as well as in Jermyn Street in London and Saurer, the Swiss engineering group, is heating up.

Laxey have offices in a converted chapel adjacent to the Coutts building in Onchan. Its claimed the hedge fund is demanding the replacement of most of the Swiss group's board.
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They bought into the Swiss textile machinery and transmissions maker last
year but said Saurer's directors had failed to respect shareholders' wishes for a strategic review of its operations.
Laxey, which has raised its stake to almost 26 per cent, has questioned the
compatibility of Saurer's two core businesses. It has in the past demanded a return of capital, as well as attacking corporate governance. Saurer said it would respond formally to Laxey's allegations in due course.