27 Facts About Elliott Management

The Elliott Corporation was founded by Paul Singer, who is CEO of the management company, based in New York City.

Early in its history, Elliott Management focused on convertible arbitrage, refocusing primarily on distressed debt investing following the 1987 stock market crash and early 1990s recession.

Elliott Management is known for restructuring such US firms as TWA, MCI, WorldCom, and Enron as well as overseas companies including Telecom Italia SpA and Elektrim.

Elliott Management joined other funds in opposing the deal, including Germany's second-largest fund manager, Deka Investments.

Elliott Management eventually participated in purchasing ShopKo at $29 per share.

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Elliott Management announced that the DIS CEO and CFO had signed lucrative management agreements that eventually would make them CEO and CFO, respectively, of Adecco.

In December 2011, it was reported that Elliott Management was suing the Vietnamese shipbuilding firm Vinashin in a British court.

Elliott Management had defaulted a year earlier on a $600 million loan backed by the Vietnamese government, then offered to pay bondholders 35 cents on the dollar.

In late 2012, Elliott Management criticized the oil company Hess for its use of capital and for being "distracted" from oil exploration and production by other activities.

In January 2013, Elliott Management called on Hess to sell certain assets and asked Hess investors to vote for five new directors as part of an effort to reconfigure the oil firm and thus boost its share price.

Elliott Management is one of several firms that, according to a February 2015 report, have invested in the Sigfox cellular network, which serves France, Spain, the UK, and the Netherlands.

In September 2015, Elliott Management purchased a 1,940,642-share stake in Comcast, a Philadelphia-based mass media company, for an average price of $58.

On 4 May 2016, Elliott Management sent a letter to CDK Board of Directors outlining steps they felt were required in order to meet projected ROI and margins.

On 8 June 2016, Elliott Management sent a letter to CDK Board of Directors advising that "CDK adopt the steps in the Value-Maximizing Plan without delay" due to share-holder support of the plan in the 4 May letter.

In May 2018, Elliott Management won a battle for control of Telecom Italia, controlling two-thirds of Telecom Italia's board seats.

Elliot Elliott Management was criticized for their handling of Cabela's headquarters following the acquisition and sale to Bass Pro Shops, due to the massive layoffs in the town of Sidney, Nebraska.

In July 2016, Elliott Management persuaded the PulteGroup, a home builder in which it owns 4.

PPG Industries, an American rival, had sought to take over Akzo Nobel, Elliott Management had urged talks between the two and eventually took legal action as part of an effort to replace Akzo Nobel's chairman, Antony Burgmans.

Elliott Management immediately started dismissing board members at Rossoneri Sport Investment Lux, which is the company that controls AC Milan.

Since 2010, Elliott Management has expanded into investing in distressed real estate.

In 2013, Elliott Management teamed up with Time Equities on a 63-story commercial and real estate project in New York, and took an ownership stake in Silverpeak Real Estate Finance, a commercial real estate lender.

In 1995, Elliott Management bought $20 million face value of defaulted Peruvian bank debt.

In 1998, after extensive litigation and numerous attempts by Elliott Management to settle, the court awarded the hedge fund $58 million, including past due interest.

Elliott Management won judgments against Argentina in US and UK courts but did not collect payment.

Elliott Management exposed corruption in the Republic of the Congo in its efforts to enforce judgments totaling more than $100 million in defaulted bank debt.

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In May 2020 Elliott Management again pushed for Alexion to sell itself, months after the drugmaker had rejected the hedge fund's earlier demand.

In November 2020, Elliott Management invested in F5 after having "spoke to the software company's management in recent weeks about ways to boost its lagging stock".