The Wall Street Journal reports Elliott Management Corp. asked Duke Energy’s Board of Directors to consider splitting the company in three. Ellott proposes separate companies for the Carolinas, Florida, and the Midwest. One of Duke’s ten largest shareholders, Ellott has made several proposals which have been rebuffed by the company. Duke is not Elliott’s only target, the firm, headed by Paul Singer, has a history of shareholder activism with companies such as Samsung, Sky broadcasting, and Akzo Nobel. Elliott also owns the AC Milan soccer team.
Like this:
Like Loading...