Deccan Value Investors supports Recall’s Board in rejecting Iron Mountain’s A$7 per share proposal

GREENWICH, Conn.--()--Deccan Value Investors L.P. (DVI), based in Greenwich, Connecticut, USA, invests globally, and manages approximately $2 billion in a concentrated, long-only portfolio. DVI's investment strategy is to invest patiently for the long term. Its investors include endowments and foundations based in the United States. Funds and company investments managed by DVI currently hold approximately 13.5% of the shares in Recall Holdings Limited (Recall).

DVI notes the recent announcement by Recall in relation to a proposal by Iron Mountain Inc. DVI considers that the proposal by Iron Mountain of A$7 per share for Recall does not reflect the current value of Recall's business or take into account the significant synergies available from combining the Recall and Iron Mountain businesses. DVI therefore supports the Recall Board’s decision to reject the proposal.

DVI reserves all of its rights in relation to its shareholding in Recall including to support or accept any offer ultimately made to Recall shareholders.

Contacts

John Malik
Chief Operating Officer
Deccan Value Investors L.P.
+1 (203) 983-7203
john@deccanvalue.com