All articles tagged with #elliott investment management
Elliott Investment Management, owner of Waterstones and Barnes & Noble, is considering an IPO in London or New York to list the bookstores, which could boost the UK stock market; no final decision has been made yet, and the IPO is likely after the summer.
Elliott Investment Management has outlined a comprehensive plan for PepsiCo to focus on core brands, optimize its portfolio, and improve operational efficiency, aiming to unlock at least 50% shareholder value through strategic reinvestment and potential refranchising of its bottling operations, while emphasizing long-term growth over short-term buybacks.
Elliott Investment Management has taken a $4 billion stake in PepsiCo, making it one of the company's largest investors, and has proposed strategic actions to accelerate growth and increase shareholder value, leading to a 2.9% rise in PepsiCo's stock price.
PepsiCo shares rose over 5% after activist investor Elliott Investment Management took a $4 billion stake, viewing it as a historic opportunity for a turnaround and increased shareholder value, with plans to work with the company on strategic improvements.
Goodyear Tire & Rubber Co is expected to name Stellantis executive Mark Stewart as its new CEO following pressure from activist investor Elliott Investment Management. The appointment is anticipated to be announced this week, and the search for a new CEO was reportedly not influenced by the settlement with Elliott. Last year, Goodyear announced the retirement of its longtime CEO Richard Kramer in 2024 and initiated business streamlining efforts after the Elliott settlement.
Elliott Investment Management has acquired a significant stake in Match Group, the parent company of popular dating platforms like Tinder and Hinge, with plans to urge the company to take action to improve its underperforming stock.
Activist hedge-fund manager Elliott Investment Management plans to push for change at Crown Castle, the owner of wireless towers, after acquiring a stake of over $2 billion. Meanwhile, shares of semiconductor giant Nvidia edged up 1% in morning trading following a 1.9% drop on Friday due to news of a delay in the launch of a new AI chip intended for China.
Catalent Inc is reportedly close to reaching a settlement with activist investor Elliott Investment Management, which may include adding new directors and exploring strategic alternatives such as a sale of the company. The contract drugmaker, valued at roughly $8 billion, has been the subject of takeover interest and has faced various challenges, including productivity issues and quality control lapses. The settlement deal would allow Elliott to influence Catalent's strategy as its stock price has declined significantly in the past year. Catalent is also the main manufacturing partner for Novo Nordisk's weight-loss drug Wegovy, and the settlement could impact their relationship.
Elliott Investment Management has taken a position in NRG Energy for the second time in six years and is calling for a boardroom overhaul and strategic changes at the US power company. The activist investor wants NRG to appoint five new independent board members and unwind its recent acquisition of home security firm Vivint Smart Home. Elliott is asking NRG to implement cost cuts worth $500m and is pushing for a strategic review to help the company refocus on its core business of supplying power.
Goodyear Tire's stock jumped 20% after activist investor Elliott Investment Management reported a 10% stake and plans to seek five board seats, as well as the sale of its company-owned store network. Elliott believes that Goodyear could unlock more than $21 a share in value if it goes forward with the investor's suggestions, including exploring ways to monetize its company-owned store network and improving its margin. Goodyear said it plans to meet with Elliott and discuss its views about the tiremaker.
Activist investor Elliott Investment Management has decided not to nominate its own directors to Salesforce's board, citing the enterprise software company's improved performance and focus on value creation. Elliott had previously bought a multi-billion dollar stake in Salesforce and was pushing for its own candidates to join the board. However, after Salesforce beat growth forecasts and announced a "profitable growth framework," Elliott has decided not to pursue its director nominations.