BP [LON:BP] shares jumped over 7.4% this week on news that activist investor Elliott Investment Management took a “significant” but unspecified stake in the oil major.
The impact on the share price completely overshadowed news of the company’s fourth quarter results (moderate and slightly below expectations) as investors began anticipating that Elliott Investment Management may push for big strategy changes.
A conversation about strategy change is due anyway with the BP CEO promising to announce plans at the company’s capital markets day on Wednesday 26 February.
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