Elliott Advisors pushed for the break-up of the leisure chain Whitbread, which sold Costa Coffee ALAMYActivist investors intensified their focus on the UK last year, spending $7.3bn (£5.7bn) on shareholdings and targeting 25 companies. The New York hedge fund Elliott Advisors led the surge, building up stakes and pushing for change at nine UK companies, compared with just one the year before, according to research by the investment bank Lazard. Elliott launched up to 22 campaigns globally last year and is known for its aggressive stance, including pursuing the government of Argentina over unpaid debts. Last year in the UK it pushed for the break-up of the leisure chain Whitbread, which sold Costa Coffee to Coca-Cola in August. Elliott also had a stake in the plane and car parts maker GKN, which was sold to Melrose.

Source: The Times January 13, 2019 00:13 UTC