Deals
Singer's Elliott Management Buys Sky Stake Ahead of Vote
- Hedge fund discloses 1.09 percent holding in filing Friday
- Sky holders are preparing to vote on Fox takeover offer
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Elliott Management Corp., the hedge fund founded by billionaire Paul Singer, has built a stake in Sky Plc as shareholders prepare to vote on 21st Century Fox Inc.’s 11.7-billion-pound ($16.6 billion) offer for the European pay-TV company.
Elliott Capital Advisors LP, a subsidiary of Singer’s fund, disclosed a 1.09 percent interest in Sky via derivatives, according to a regulatory filing published Friday. Elliott’s investment is fluid and the firm has yet to determine whether it will be an active or passive position, according to a person familiar with the matter, who asked not to be identified as the deliberations are private.