14th Sep 2021 20:44
(Alliance News) - US activist fund Elliott Management Corp is seeking to break up SSE PLC after building up an interest in the Perth, Scotland-based energy company, Bloomberg reported Tuesday.
According to people with knowledge of the matter, the fund has been in talks with representatives from SSE as well as major shareholders, particularly on the separation of SSE's renewable portfolio from its regulated electricity businesses.
Bloomberg reported that Elliott has not confirmed its shareholding position in SSE or the size of the stake taken.
https://www.bloomberg.com/news/articles/2021-09-13/elliott-is-said-to-push-for-breakup-of-british-power-firm-sse
Shares in SSE closed 1.7% higher at 1,659.00 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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