January 29, 2013 at 14:20 PM EST
Who Will Prevail in Clash Between Hess Management and Activist Investor?
Shares of Hess (NYSE:HES) surged 8.53% in mid-Tuesday trading after activist investor Elliott Management Corporation published a letter to shareholders saying that the oil and gas company’s share price could surge to $126 per share if it were managed well.   Elliott which took up a 4% stake in Hess this week making it the company’s largest independent investor also said in its letter to shareholders that it “strongly advocates for Hess to conduct a full strategic and operational review to consider all pathways to maximize shareholder value.”   Elliott run by billionaire Paul Singer argued that because Hess ...
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