TOKYO (dpa-AFX) - Elliott Investment Management L.P. (DKILF) said on Thursday that it has built a significant stake in Daikin Industries, Ltd. and is pushing for strategic changes to address what it sees as a market undervaluation of the company.
Elliott is calling for concrete measures to expand margins, enhance shareholder returns, and review non-core business segments. The firm added it intends to work constructively with Daikin to ensure the strategy delivers credible and ambitious outcomes.
Elliott, which manages nearly $80 billion in assets, said it sees strong long-term potential in Daikin's market-leading operations but believes targeted reforms are needed to unlock shareholder value.
DKILF is currently trading at $137.51, up $7.58 or 5.83 percent on the OTC Markets.
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