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Elliot Hedge Fund buys substantial amount of BP stock
Posted on 2/9/25 at 4:51 pm
Posted on 2/9/25 at 4:51 pm
What's everyone's opinion on this large stock buy from Elliot? Paul Singer is known for buying undervalued businesses and busting them up for sale to create profit. Think Cabela's and, more recently, Honeywell. BP stock is hovering around $32 a share.
Yahoo link about Elliot stock purchase
Yahoo link about Elliot stock purchase
This post was edited on 2/9/25 at 4:52 pm
4
Posted on 2/9/25 at 5:01 pm to Gee Grenouille
i worked in corporate development for a company during a period where elliott was gobbling up huge chunks of the company's stock. it was a not fun time.
Posted on 2/10/25 at 2:34 am to Louie T
Got a friend who works at the Goodyear plant in Topeka, KS and he says Elliot has made working there a living hell.
He also killed off Cabelas and forced the merger with Bass Pro and that killed off the small town of Sidney, NE.
He also killed off Cabelas and forced the merger with Bass Pro and that killed off the small town of Sidney, NE.
This post was edited on 2/10/25 at 2:35 am
Posted on 2/10/25 at 3:13 am to TigersHuskers
Well, now I know that if this guy starts buying my companies stock I should go look for a job
Posted on 2/10/25 at 9:11 am to DownshiftAndFloorIt
So he's like a real life Gordon Gekko
Posted on 2/10/25 at 9:25 am to Gee Grenouille
I hope he does not cut the divy. Does he have a record on that?
Posted on 2/10/25 at 9:38 am to leeman101
quote:
Does he have a record on that?
I'd guess no. He's bought in around $30 i guess. No divy will generate a selloff and drive the price down. His MO is to force sales on the company broken apart. He has teamed up with Blackrock before, and they're a 10% stakeholder. He's also big buddies with Trump who's been vocal about his issues with the UK. We shall see what happens, especially with earnings calls coming up.
Posted on 2/10/25 at 9:48 am to Louie T
quote:
i worked in corporate development for a company during a period where elliott was gobbling up huge chunks of the company's stock. it was a not fun time.
How much stock do they need to buy to have that much influence?
Posted on 2/10/25 at 1:49 pm to Gee Grenouille
BP is one of the most mismanaged companies in the world. Their underperformance vs competitors over the decades is pretty remarkable.
If I were a shareholder I would welcome this.
If I were a shareholder I would welcome this.
Posted on 2/10/25 at 2:39 pm to Samso
Merger with RD Shell.
Posted on 2/10/25 at 2:41 pm to Gee Grenouille
quote:
Honeywell.
I have boots on the ground in this organization. Elliot is driving the split but plenty of people in the company have championed the idea of 3 companies.
Aerospace/defense makes the money will be interesting how the share price will be valued.
This same process is about to happen to CVS if anybody still has that.
Posted on 2/10/25 at 3:08 pm to Kingpenm3
quote:
How much stock do they need to buy to have that much influence?
Elliott’s reputation gives them the luxury to influence without much control but they usually accumulate a 5% stake which requires a 13D filing with the SEC. They will try to sway the big shareholders to their side to enact change and gain board seats.
Posted on 2/10/25 at 6:14 pm to Kingpenm3
quote:up to 25% depending on what they're trying to do
How much stock do they need to buy to have that much influence?
This post was edited on 2/10/25 at 6:16 pm
Posted on 2/11/25 at 2:00 pm to Samso
quote:
Elliott’s reputation gives them the luxury to influence without much control but they usually accumulate a 5% stake which requires a 13D filing with the SEC. They will try to sway the big shareholders to their side to enact change and gain board seats.
Ah. That makes more sense. More persuasion for board seats than force.
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