PulteGroup Settles With Activist Elliott, Adding 3 Directors

  • Homebuilder was publicly criticized by namesake founder
  • Activist in standstill pact as company plans to cut spending

PulteGroup Inc., the homebuilder that has faced criticism from its namesake biggest investor, added three independent directors and committed to reduce spending in a settlement reached with sometimes-activist hedge fund Elliott Management Corp.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.