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Third Point Hedge Fund Has Big Shell Stake, Urges Energy Giant to Break Up
An activist hedge fund is urging Shell to separate into two companies to retain and attract investors as many flee stocks seen as environmentally unfriendly
Link to tweet
WSJ NEWS EXCLUSIVE | DEALS
Third Point Has Big Shell Stake, Urges Energy Giant to Break Up
The activist hedge fund’s stake is worth well over $500 million
By Cara Lombardo and Sarah McFarlane
https://twitter.com/CaraRLombardo
cara.lombardo@wsj.com
https://twitter.com/sarah_mcfarlane
sarah.mcfarlane@wsj.com
Updated Oct. 27, 2021 4:14 pm ET
Daniel Loeb’s Third Point LLC has taken a large stake in Royal Dutch Shell PLC and is urging the oil giant to separate into two companies to retain and attract investors as many flee stocks seen as environmentally unfriendly.
The activist is the latest to pressure a major oil company to change its strategic direction, as the firms face calls to reduce fossil fuel investments and pivot to renewable energy amid concerns about climate change. Upstart hedge fund Engine No. 1 waged a successful campaign to win seats on the board of Exxon Mobil Corp. in May.
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Third Point Has Big Shell Stake, Urges Energy Giant to Break Up
The activist hedge fund’s stake is worth well over $500 million
By Cara Lombardo and Sarah McFarlane
https://twitter.com/CaraRLombardo
cara.lombardo@wsj.com
https://twitter.com/sarah_mcfarlane
sarah.mcfarlane@wsj.com
Updated Oct. 27, 2021 4:14 pm ET
Daniel Loeb’s Third Point LLC has taken a large stake in Royal Dutch Shell PLC and is urging the oil giant to separate into two companies to retain and attract investors as many flee stocks seen as environmentally unfriendly.
The activist is the latest to pressure a major oil company to change its strategic direction, as the firms face calls to reduce fossil fuel investments and pivot to renewable energy amid concerns about climate change. Upstart hedge fund Engine No. 1 waged a successful campaign to win seats on the board of Exxon Mobil Corp. in May.
TO READ THE FULL STORY
SUBSCRIBE
SIGN IN