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Shareholder Showdown: Elliott Demands Further Changes at BP ...Middle East
Elliott Management, the activist investor pushing for changes at BP, has discussed with other large shareholders in the supermajor potential additional moves to boost the company’s performance including more cost reductions and leadership reshuffles, two shareholders have told Reuters. BP’s stock has been underperforming its UK-based peer, Shell, and other major international oil firms in recent years. The BP board has been under increased pressure to seek fundamental changes to the business to reward shareholders more. The pressure…
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