• Register
  • Login
  • EnglishFrenchGermanItalianPortugueseRussianSpanish
Registration is Free


loader

By

   posted by user

Activist Investor, Elliot, Increases Stake In bp To 5%

Activist investor, Elliot Investment Management has increased its stake in energy giant, bp, to 5%, making it one of bp’s largest current shareholders alongside other institutional investors like Vanguard. The investor is seeking for a transformational change within bp, including cutting spending and boosting free cash flow to $20 billion by 2027. 

Bp’s market valuation has been struggling, falling to $76 billion, which is significantly less than its peers like Shell and ExxonMobil.
Also, bp’s retreat from its energy transition plans to re-focus on fossil fuels has made activist investors like Legal & General Group unhappy.
 


0 Replies
Please login to reply this news..