Monday, 16 April 2018

Whitbread shares jumped more than 7% as activist investor builds stake

Shares in Whitbread jumped more than 7% after it emerged that an activist investor has built a stake to become its largest shareholder.

Elliott Advisors confirmed at the weekend that it now holds a stake of more than 6% in the company.

According to reports, Elliott Advisors wants Whitbread to be split into its Costa Coffee chain and its Premier Inn business.

A spokeswoman for Whitbread declined to comment.

Shares ended the day 7.2% higher at £42.18, valuing the company at £7.7bn.

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