Activist Investors Have a Simple Message for London Firms: List Elsewhere
- Third Point is said to pitch UK companies to move to New York
- Cevian, ex-Elliott trader’s fund also want firms to leave UK
The City of London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Activist investors looking for better returns are trying to convince London’s companies to list overseas.
Dan Loeb’s hedge fund Third Point has recently urged a range of large British businesses to move from London’s stock market to New York, according to people familiar with the matter, who didn’t name specific companies and asked not to be named discussing confidential information. He’s not alone in pushing the strategy, which is underpinned by the steep valuation discount for UK stocks compared with those in the US and elsewhere.