U.S. hedge fund P. Schoenfeld Asset Management (PSAM) will stop short of seeking to replace the board of Vivendi at an April 17 shareholders’ meeting, despite opposing the French media group’s stance on shareholder returns. “We are not planning to try to put any new directors on the agenda,” Peter Schoenfeld told Reuters in an interview. Schoenfeld and Vivendi have been at odds since March 23, when the fund called for an increase to the company’s planned payout to shareholders from a 35 billion euro ($38 billion) cash pile amassed from a series of disposals.