David G. Herro of Harris Associates in Chicago is one of them.

An investment analyst for Harris Associates attributed the sale to profit taking but acknowledged that his firm "had a sense they would probably rule this way."

His firm, Harris Associates of Chicago, owns about 6.5 million shares.

Harris Associates, with almost 5% of the shares, today became the latest G4S investor to declare itself against the proposed £5.2bn acquisition.

Harris Associates considers itself to be a value investor.

Harris Associates' noteworthy investment managers include the following:

In 1992 he moved to Harris Associates in Chicago to start the Oakmark fund.

He is a partner in Harris Associates, the fund's adviser, and manages about $900 million, mostly for individuals.

Harris Associates was sued by Jones and other investors in Harris' mutual funds.

Henry R. Berghoef, director of research at Harris Associates, noted that over the years, newspapers had sold for 12 to 13 times their cash flow.