Home » Analysis & Comment » Elliott asked Pernod Ricard for 500 million euros cost cuts: source
Elliott asked Pernod Ricard for 500 million euros cost cuts: source
12/12/2018
PARIS (Reuters) – Activist fund Elliott Management sent a letter to the board of Pernod Ricard (PERP.PA) asking for cost cuts of some 500 million euros ($567.40 million) to help boost its operating performance, a source close to the matter told Reuters.
Elliott also suggested alternative scenarios such as a merger with a large rival, added the same source.
Elliott said earlier in the day that it has taken a stake of over 2.5 percent in the company and met its chief executive to discuss ways to improve its performance.
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Home » Analysis & Comment » Elliott asked Pernod Ricard for 500 million euros cost cuts: source
Elliott asked Pernod Ricard for 500 million euros cost cuts: source
PARIS (Reuters) – Activist fund Elliott Management sent a letter to the board of Pernod Ricard (PERP.PA) asking for cost cuts of some 500 million euros ($567.40 million) to help boost its operating performance, a source close to the matter told Reuters.
Elliott also suggested alternative scenarios such as a merger with a large rival, added the same source.
Elliott said earlier in the day that it has taken a stake of over 2.5 percent in the company and met its chief executive to discuss ways to improve its performance.
($1 = 0.8812 euros)
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