The camera maker Leica revolutionised photography in 1925 when it introduced the compact camera. More than 80 years later, it may gain another place in history – for helping a breed of “professional claimants” make life even tougher for German listed companies.

Having amassed 96.5 per cent of Leica stock, the Austrian private equity group, ACM, last year called a shareholder meeting to agree a compulsory sale – or so-called “squeeze out” – with remaining shareholders, in order to take the company private.