Elliott Reports Stake in Tokyo Gas as Activists Target Japan [Yahoo! Finance Canada]
TOKYO GAS CO LTD UNSP/ADR (TKGSY)
NASDAQ:AMEX Investor Relations:
tokyo-gas.co.jp/ir/english/library/earn_e.html
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg Elliott now holds 5.03% of the utility and may make important proposals to the company, according to a filing Tuesday to the Japanese finance ministry. Both Elliott and Tokyo Gas weren't immediately available for comment. Activist investors like Elliott have been campaigning to boost value for shareholders in Japanese firms. The hedge fund, which manages about $70 billion in assets, has built stakes in other companies, including trading house Sumitomo Corp., SoftBank Group Corp. and developer Mitsui Fudosan Co. Elliott is eyeing unrealized value in Tokyo Gas's real estate holdings worth about 1.5 trillion yen ($9.7 billion), the Financial Times reported, citing people familiar with the activist fund. Tokyo Gas, whose core business involves producing, importing and distributing energy, owns undeveloped parts of Tokyo's Toyosu district as well as hotels, apartments and office buildings. In Japan, there's a huge gap — 22 trillion yen ($142 billion) by on
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News
- Elliott’s Tokyo Gas property push should not get Lost in Translation [Financial Times (FT.com) (UK)]Financial Times
- 7-Eleven owner and Tokyo Gas shares jump on deal reports [Financial Times (FT.com) (UK)]Financial Times
- Corporate Shakeups Light Up Tokyo Bourse on Down Day for Stocks [Yahoo! Finance]Yahoo! Finance
- Tokyo Gas shares surge after activist investor Elliott takes stake [Yahoo! Finance]Yahoo! Finance
- Tokyo Gas Shares Jump Most Since 1987 After Elliott Report [Yahoo! Finance Canada]Yahoo! Finance Canada