Mortgage

Questions abound as Elliott takes 5% stake in Scottish Mortgage

Elliott Associates, the much feared and respected US activist hedge fund, has emerged with a 5% stake in Scottish Mortgage Trust (SMT).

In a post-market disclosure to the stock exchange, the Delaware-based investment firm revealed it had bought nearly 0.5% of the Baillie Gifford flagship’s shares with a further 4.57% in equity swaps to take it just over the 5% threshold.

Founded in 1977 by Paul Singer, Elliott is best known for buying distressed emerging market bonds and pursuing Peru and Argentina through international courts when they defaulted on their debts. Closer in time and space, last month it made a takeover approach to electrical retailer Currys (CURY)


Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.

100% secure your website.