Elliott Reputationla Strategy6 Sep 2016 22:25
I saw two articles from "this is money"; one suggestion that Elloitt will let the deal go through as they will make guaranteed easy money by buying shares below the asking price circa 2.23 and another article is saying that Elliott will stop the deal because they need to maintain their reputation as a non nonsense hedge fund to make a point even if they will loose money.
I'm leaning on the latter as the former will only get them a mere 2% easy money, which I don't think will be worth their while, but to scupper this deal will send a strong message to any future buyers where Elliott holds a sizeable stake I.e Meggitt plc.
I'm still not selling my shares and waiting to see how this battle will conclude. I'm surprised that none of the big supermarkets showed any interest in Poundland, or it could be that Elliott may but this business for themselves, and then they could easily sack the BoD's.