Whitbread Confirms That Elliott Advisors Holds 5.3% Interest (ALLISS)

Wake up and float the coffee, Costa owner Whitbread told

Leisure business Whitbread (WTB) shot to the top of the FTSE 100 leaderboard in early trading on Monday as another activist investor stake builds.

Shares in Whitbread soared by 6.6 per cent after Elliott, the United States hedge fund, confirmed that it has become the largest shareholder in the company. The group's shares have lost almost six percent of their value over the past year, as compared with about a one-percent dip in the Footsie.

Whitbread to spin off Costa?

Multiple departments called to Sun Prairie apartment building fire
Two people were displaced in a small fire in a three-story apartment Saturday afternoon in northwest suburban Palatine. Upon arrival, all occupants were out of the residence, and the fire was in the rear unit of the first floor.

Reports have suggested that Elliott Advisors is pressuring Whitbread into splitting its hotel and Costa Coffee businesses to add shareholder value.

The newspaper reported that Elliott had presented Whitbread with a plan to split the firm through a demerger of its Premier Inn and Costa Coffee divisions. Having bought into the company almost a year ago, the hedge fund's stake was reported by The Sunday Times to be worth about £430 million now.

That sparked a near 7% jump in Whitbread's share price on Monday to £41.97, the highest the stock has been in almost a year.

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