could be good news given that bP needs new board, ceo, and lt
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I suggest to offload TA & Covenience stores first. Too many employees and the returns are below expectation. Trying to make profits by selling coffee and toilet paper...They could strategically find buyers/partners for the fuel distribution.
Elliott (and others that will join them) will most likely provide the fastest (though painful) path to asset appreciation. We all know BP is bloated, has poor management, and is a drift directionally. I suspect a break up of BP along with a major culling of positions is in the very near future.
@dp+1jkkkqyws
Unless bp implements a poison pill, or takes other extreme measures, there’s not much they can do about it. Elliott will work with other activist investors to get control of the board and then make the changes they need to make to get a profit from their investment. Or bp could cooperate.
Murray hates Americans so this stake by an American investment firm will not go well with him.
Report from 2013 on Elliott's Management perspective on Hess. Hess stock price in 2013 was under $50. Elliott thinks the stock should be valued at $125. Hess stock today is $143. They added 3 board members and Elliott paid their salaries and bonus based on stock appreciation.
https://www.10xebitda.com/wp-content/uploads/2016/11/Elliott-Hess-Presentation-Jan-2013.pdf
Could be good news long term - just look at what happened when Elliott took an activist position in Hess
The merger and reap the reward makes sense given Elliott feel bp is undervalued…..
google bp+elliot
Link?
could murray's abscence be linked? he knows he's out?
They’ll probably remove the board and force us into a merger then reap the premium on the stock bump.
I’m surprised it didn’t happen sooner
Given its is an American fund, will this be for the good or the death of bp?