Elliott builds BP stake of nearly 5%, pushes for big divestments, source says
Activist investor Elliott Management has built a near 5% stake in BP and is pushing the oil company to take radical action to transform its performance, including a big divestment programme, a source familiar with the matter told Reuters on Thursday.
At the headquarters of Elliott Management in New York, the hedge fund’s energy team now has T-shirts with “Gulf of America” printed on them, including one with a picture of Donald Trump as a pirate, ...
BP trades at around 10x this year's profits, while its American peer XOM trades at 14-15x this year's profits. See what makes ...
BP shares rose sharply after it was revealed that activist hedge fund Elliott Investment Management had taken a stake in the ...
Shares in BP rose by 7% on Monday, and were on track for the biggest daily gain in two years, as investors anticipated that ...
Analysts suggest hedge fund will want board room shake-up, E&P focus, asset sales, spin-offs and could 'smoke out' corporate ...
Elliott Investment Management is demanding BP Plc make drastic cost cuts and divestments to strengthen its future as a ...
Elliott is known for its aggressive activism in the companies it invests in, frequently pushing for rapid and significant ...
BP has been ordered to cut spending on renewable energy by its third largest shareholder as pressure grows on the oil giant ...
Activist investor Elliott Investment Management has built a stake in London-listed oil major BP , a person familiar with the issue said, boosting shares to their highest since August in early trade on ...
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