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Activist Elliott now among PPL’s top 10 investors

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Elliott Investment Management, the activist hedge fund firm run by Paul Singer, has built a sizeable holding in utility owner PPL Corp and is helping to shape the company’s new business plan, according to a report by Bloomberg.

Elliott Investment Management, the activist hedge fund firm investment firm run by Paul Singer, has built a sizeable holding in utility owner PPL Corp and is helping to shape the company’s new business plan, according to a report by Bloomberg.

The report cites unnamed sources as revealing that Elliot’s stake puts it among PPL’s 10 largest investors. 

Relations between Elliot and the company’s board are said to be cordial, with the fund involved in a promoting a raft of new business plan initiatives including raising capital expenditures, upping the dividend, lowering carbon-dioxide emissions and adding a new board member, Linda Sullivan, according to a company statement. 

One goal is to grow earnings per share by 6% to 8% annually between now and 2026.

Elliott has previous experience in the energy sector through investments in natural gas utility NiSource Inc, SSE Plc, CenterPoint Energy Inc, and Duke Energy Corp.

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