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Hedge Funds Pressure Whitbread To Spin Off Costa Coffee | Business

by theguardian.com posted 9months ago 38 views
Elliott Advisors, the FTSE 100 firm’s largest investor, believes breaking it up could create £3bn of valueWhitbread is under mounting pressure from hedge funds to break up its business by spinning off the Costa Coffee chain, after activist investor Elliott Advisors built up a stake of more than 6%.The US hedge fund said in a statement on Saturday that it has become the largest investor in Whitbread, which started out as a brewing business but now owns Costa, Britain’s biggest coffee outlet, and Premier Inn, the country’s biggest budget hotel company. Continue reading...

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