Coast Capital Pushes Blue Prism to Mull Alternatives to Sale (1)

Activist investor Coast Capital said U.K. automation software maker Blue Prism Group Plc should consider alternatives to a potential private equity takeover.

London-based Blue Prism shouldn’t explore a sale “until more attractive options have been fully considered,” Coast Capital founding partner James Rasteh wrote Tuesday in a letter to the company’s board seen by Bloomberg News. The investment firm said it owns just under 3% of Blue Prism. That would put it just outside the top 10 shareholders, according to data compiled by Bloomberg.

Blue Prism announcedearlier Tuesday it’s in talks with TPG and Vista Equity Partners about potential ...