Macquarie Group may have inadvertently provided some ideas this week to other investment banks seeking payback for not being hired to work on a deal or underwrite a capital raising.
The coal company which recently hired BBY Limited to act as the lead manager on a placement, Coalworks, on Wednesday said Macquarie (which holds a 8.19 per cent stake) had requisitioned a meeting to dump its chairman, Wayne Mitchell, and chief executive, Andrew Firek.
Coalworks announced yesterday it opposed the move, arguing it was not in the interests of shareholders.
