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Activist Elliott Said to Build Stake in Struggling Oil Major BP
Mint Hyderabad
|February 10, 2025
Fund seeking to boost shareholder value by pushing firm to consider transformative measures
Elliott Investment Management has built a significant stake in BP Plc, according to people familiar with the matter, as the British oil major struggles to win back investor confidence and reverse years of underperformance.
The activist fund is seeking to boost shareholder value by pushing the firm to consider transformative measures, the people said, asking not to be identified because the discussions are private.
Elliott believes BP is significantly undervalued and its performance is disappointing, they said. The exact size of the stake couldn't be immediately learned.
Representatives for Elliott and BP declined to comment.
BP has fallen about 8% over the past five years, while its Big Oil rivals from Shell Plc to Exxon Mobil Corp have risen by at least 30%.
यह कहानी Mint Hyderabad के February 10, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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