Breaking News
Investing Pro 0
Free Webinar - What Is a Gold IRA? Fees, Advantages, and Risks - December 7, 2022 | 01:00PM EST Enroll Now

Elliott ranks as busiest activist hedge fund in third quarter, again

Stock Markets Oct 11, 2019 10:25AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Elliott ranks as busiest activist hedge fund in third quarter, again
 
T
+0.94%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
ESLX
-0.06%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
MPC
+0.36%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
G24n
-0.12%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

BOSTON (Reuters) - Elliott Management, Paul Singer's $35 billion hedge fund, kept up its blistering pace of pushing for corporate changes during the third quarter, outspending all rivals with campaigns at AT&T (NYSE:T) and Marathon Petroleum Corp (NYSE:MPC) , data released on Friday showed.

The firm committed $5.2 billion in new capital during July, August and September, making it the busiest activist both by capital committed and number of campaigns launched, according to data compiled by Lazard.

This year Elliott has committed $8.4 billion in 14 campaigns. That easily outpaces Carl Icahn's Icahn Associates, which has committed $2.6 billion in three campaigns, and Daniel Loeb's Third Point, which put $2.4 billion to work in three campaigns. Starboard Value has launched 11 campaigns this year, committing $2.3 billion in cash.

Thanks to Elliott's activities, the pace of activism overall was higher in the third quarter of 2019 than a year earlier with $11 billion deployed in capital compared with $8.7 billion last year.

Europe became the favorite hunting ground as activists launched a record 20 campaigns at companies like EssilorLuxottica and Scout24.

While activists traditionally push for strategic reviews, demands for mergers and acquisitions have never been higher, Lazard said, noting that nearly half of all campaigns this year have had an M&A thesis.

Elliott ranks as busiest activist hedge fund in third quarter, again
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email