Elliott Confirms Stake in Germany's Thyssenkrupp

   By Donato Paolo Mancini

Elliott Management Corp. said Thursday it holds a significant stake in German industrial group Thyssenkrupp AG (TKA.XE), but remains below mandatory disclosure levels.

Elliott Advisors, the U.K. arm of activist investor Elliott Management, announced the news, after reports earlier this week suggested Elliott might disclose a position in the company higher than 3% or 5%.

"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," Elliott Advisors said.

Elliott said its approach to Thyssenkrupp is consistent with its approach to all investments, and said it has spent "significant time and resources analyzing the company."

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com

(END) Dow Jones Newswires

May 24, 2018 04:23 ET (08:23 GMT)

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