Heard on the Street: Activist investor Elliott, heading into a showdown with Korea’s Hyundai, may not win next month’s battles—but it has a good chance of winning the war
Activist investor Elliott Management is heading into a showdown with Korea’s Hyundai. It may not win this battle, but there are bigger prizes down the road.
Paul Singer’s $35 billion New York hedge fund published an open letter Wednesday to fellow shareholders in car-parts maker Hyundai Mobis, effectively setting up a proxy fight at next month’s annual general meeting. Investors can expect a similar contest at Hyundai Motor Co., another member of the Korean auto-to-steel conglomerate. Elliott wants the two companies to pay...
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