Hedge fund Elliott Investment Management buys $1.5 billion stake in Hewlett Packard Enterprise

From Yahoo Finance: 2025-04-15 09:50:00

Hedge fund Elliott Investment Management has acquired a stake of over $1.5 billion in Hewlett Packard Enterprise, becoming one of its largest investors. Elliott plans to engage with management, but specific demands are unclear. News of the investment boosted HPE shares by nearly 5%, although year-to-date they are down 30%.

HPE, valued at $20 billion, faces pressure from tariffs and high production costs. The company aims to cut $350 million in costs by 2027, including a 5% global workforce reduction. Despite facing legal challenges over its acquisition of Juniper Networks, CEO Antonio Neri is optimistic about the deal.

Elliott, managing $70 billion in assets, is known for pushing for management changes in underperforming companies. The firm has initiated campaigns in the U.S. and abroad this year, including seeking four board seats at Phillips 66. Elliott’s proactive approach has led to the departure of 14 CEOs at companies where it held a stake since 2022.



Read more at Yahoo Finance: Elliott builds $1.5-billion stake in Hewlett Packard Enterprise