Elliott Management Discloses EUR1.2 Billion Stake in SAP

Date : 24/04/2019 @ 09:36
Source : Dow Jones News

Elliott Management Discloses EUR1.2 Billion Stake in SAP

By Patrick Costello

 

Elliott Management Corp. said Wednesday that it has a stake worth 1.2 billion euros ($1.35 billion) in SAP (SAP.XE), and it added that it supports the company's strategy review.

The U.S.-based hedge fund said it is "highly supportive" of the German software company's mid-term targets, including a cloud gross margin of 75%, as well as initiatives to improve operational efficiency.

"The company's stock has been consistently undervalued relative to its revenue growth, and today's announcement lays the groundwork for substantial value realization," Elliott said.

 

Write to Patrick Costello at patrick.costello@dowjones.com.

 

(END) Dow Jones Newswires

April 24, 2019 04:21 ET (08:21 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20191019 14:35:22