Reported 1 day ago
Activist investor Elliott Investment Management has increased its stake in oil giant BP, aiming to enhance shareholder value by urging the company to adopt transformative changes. While the exact size of the stake remains undisclosed, it has been described as significant. BP currently holds a market cap of approximately £69 billion, significantly less than its competitor Shell. BP's CEO, Murray Auchincloss, is working on cost-cutting measures and aims to rebuild investor confidence following leadership changes and declining refining margins.
Source: YAHOO