Tokyo Gas shares surge after activist investor Elliott takes stake By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 20 2024
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Source: Investing.com
Elliott Management's Stake in Tokyo Gas: Shares of Tokyo Gas Co., Ltd. surged over 12% after Elliott Management disclosed a 5.03% stake in the company, indicating intentions to enhance shareholder value through potential proposals.
Pressure for Asset Sales: Elliott plans to urge Tokyo Gas management to divest non-core assets, particularly its substantial real estate portfolio, which is estimated to have an unrealized value of approximately 1.5 trillion yen ($9.7 billion).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
