Elliott Goes Public With 5% BP Stake, Seeks Deeper Cost Cuts
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Elliott Investment Management has built up its stake in BP Plc to just over 5% of shares, as the activist investor increases its pressure campaign at the struggling oil giant.
The holding, disclosed in a regulatory filing on Tuesday, would put Elliott on par with Vanguard Group Inc. as one of UK-listed BP’s largest investors, according to data compiled by Bloomberg.