LONDON--(BUSINESS WIRE)--Further to recent media speculation, funds advised by Elliott Advisors (UK) Limited (“Elliott”) confirm that they are significant shareholders in thyssenkrupp AG (“thyssenkrupp” or the “Company”). The funds’ position in ordinary shares is such that it does not exceed, as of today, the thresholds mandating disclosure under applicable German laws. Elliott will make any disclosure regarding its holdings in the shares of thyssenkrupp no later than when and as required by German law.
Elliott’s approach to its investment in thyssenkrupp is consistent with its approach to all its investments. Elliott has spent significant time and resources analysing the Company, performing exhaustive research on its prospects, competitive positioning and valuation. Elliott believes thyssenkrupp has significant scope for operational improvement which would benefit all stakeholders and looks forward to engaging in a constructive dialogue with them in the near future, including with the supervisory and management boards.
Elliott Management Corporation manages two multi-strategy investment funds which combined have approximately $35 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corporation.