Elliott Management Corp, Paul Singer's $35 billion hedge fund, has outspent...
BOSTON - Elliott Management Corp, Paul Singer’s $35 billion hedge fund, has outspent all rivals in pushing for corporate changes like spin-offs, mergers, and management overhauls this year.
Daniel Loeb’s Third Point LLC spent $1.5 billion in the first half while Jeffrey Smith’s Starboard Value spent $1.2 billion, according to Lazard’s report, which will be released later on Wednesday. Alongside Nelson Peltz’s Trian Fund Management, which disclosed a position in British plumbing products distributor Ferguson PLC in June, Elliott is among a small number of mostly U.S.-based top ten activist firms now prodding European companies to make changes.
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