- September 30, 2021
- Posted by: Stratford Team
- Category: Business
Sept 30 (Reuters) – Hedge fund Elliott Management said it has built a stake in troubled Japanese industrial conglomerate Toshiba Corp (6502.T), which is undertaking a strategic review amid pressure from other shareholders.
Elliott, one of the world’s most powerful activist investors which oversees some $48 billion in assets, said in a statement to Reuters it is now a “significant” investor in Toshiba.
The New York-based firm’s announcement comes just months after Effissimo Capital Management, Farallon Capital Management and other shareholders ousted Toshiba’s chairman after the company was found to have colluded with the Japanese government to put pressure on foreign investors. read more
“Our investment in Toshiba reflects our strong conviction in the company’s underlying value,” Elliott, which prefers to conduct its negotiations out of the public…