Investing.com -- Elliott Capital Management, an activist investor, has acquired a stake close to 5% in British multinational oil and gas company BP (NYSE:BP), according to an early Thursday Reuters report.
Elliott is reportedly urging BP to implement a substantial divestment program. However, it has been clarified that Elliott is not pressing for BP to relist in the United States.
In terms of BP’s expenditure on oil and gas, Elliott is not advocating for an increase - Elliott is in support of BP’s current independent strategy and is not pushing for a merger.
This development marks Elliott Capital Management’s latest move in the energy sector, as it continues to invest in and influence companies within the industry.
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