Reported 1 day ago
BP Plc is facing a significant moment in its history as activist investor Elliott Investment Management, helmed by Paul Singer, invests in the company following its underperformance against peers like Shell and TotalEnergies. This development comes after a series of setbacks for BP, including the fallout from the Deepwater Horizon disaster and the abrupt firing of former CEO Bernard Looney. Elliott aims to drive change to enhance shareholder value, pushing BP to reassess its strategies amid ongoing financial struggles and declining share prices, with a crucial strategy update awaited soon.
Source: YAHOO