One of the world’s most aggressive activist hedge funds is targeting a break-up of SSE, the British energy group.
Elliott Management, the American fund, has built a stake in the London-listed power provider and has called on the company to split off its renewables business.
Elliott has held meetings behind closed doors with SSE to argue for a separation, according to Bloomberg, which was first to report the hedge fund’s break-up push. The activist firm is also said to have spoken to some of the company’s biggest shareholders.
Elliott’s decision to start a campaign at the Perth-based SSE comes at a potentially politically sensitive time. In November Britain will host Cop26, a key United Nations climate change conference, in Glasgow. An attempt by an American