UPDATE: Whitbread Confirms That Elliott Advisors Holds 5.3% Interest (ALLISS)

April 16th, 20188:55 am @

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LONDON (Alliance News) – Whitbread PLC confirmed on Monday that US activist hedge fund Elliott Capital Advisors LP holds a 5.30% interest in the company following a transaction last Wednesday.

On Sunday, the Financial Times had reported that Elliott Advisors became the largest shareholder with a 6.0% stake.

The newspaper reported that Elliott had presented Whitbread with a plan to split the firm through a demerger of its Premier Inn and Costa Coffee divisions. This was on the grounds that demerging Costa would be less likely to derail the coffee chain’s three-year turnaround plan, as opposed to a sale.

Last year in December, US hedge fund Sachem Head acquired a 3.4% stake in Whitbread, and made a series of demands to the group including a split of the business, the sale of property assets, and a share buyback.

Shares in Whitbread were up 6.2% at 4,180.00 pence early Monday, the best performer on the FTSE 100 index.

By Dayo Laniyan; [email protected]

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Article source: http://www.iii.co.uk/alliance-news/1523866421888144900-3/update-whitbread-confirms-that-elliott-advisors-holds-5-3-interest-alliss-