
Activist investor acquires major stake in Whitbread
Elliott Advisors is likely to push for the spin-off of Costa as it now holds the largest share in Whitbread.
It has built up a £430m position in Whitbread over the last year. Set up by US billionaire Paul Singer, Elliott has a track record of agitating for change across some of the world's biggest companies. While on good terms with Whitbread's management, it is understood the fund is keen for the company to be split in two.
Formed of Premier Inn and Costa, Whitbread's current market capitalisation of £7.2bn would see the creation of two separate firms worth an aggregate of £10bn.
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