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22.12 - 18:47
Activist investor Elliott attacks SSE over green energy plans
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The US activist investor Elliott Management has ratcheted up the pressure on the UK firm SSE, with a public attack on the company’s energy transition strategy and a call for two new independent directors.
The FTSE 100 company has rejected the idea from the New York-based hedge fund – which has built a stake in SSE in recent months – that it should spin off its renewables arm. On Tuesday, it issued a further swift rebuff of Elliott’s demands.
Last month SSE announced a £12.5bn plan to increase investment across its renewable energy and electricity networks businesses over the next five years. It will fund this by selling a 25% stake in its electricity networks division and cutting the dividend. By the end of the decade, the company plans to
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