Activist hedge fund reportedly amasses £3.8bn stake in BP
Elliott Management expected to demand changes to company’s strategy including pushing it to abandon commitment to green energyThe activist hedge fund targeting BP has amassed a stake in the oil company worth almost £3.8bn, or 5% of its shares, to become its third biggest shareholder, according to reports.Elliott Management is widely expected to use its grip on the 120-year-old company to demand sweeping changes, including a potential break-up of the company, after BP lost almost a quarter of its market value in the past two years. Continue reading...
Elliott Management expected to demand changes to company’s strategy including pushing it to abandon commitment to green energy
The activist hedge fund targeting BP has amassed a stake in the oil company worth almost £3.8bn, or 5% of its shares, to become its third biggest shareholder, according to reports.
Elliott Management is widely expected to use its grip on the 120-year-old company to demand sweeping changes, including a potential break-up of the company, after BP lost almost a quarter of its market value in the past two years. Continue reading...
