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Elliott Management pushes for change at Suncor Energy: Reuters

US hedge fund Elliott Management is pushing Canada's Suncor Energy to add new board directors, overhaul management and begin a strategic review, Reuters reported.

US hedge fund Elliott Management is pushing Canada’s Suncor Energy to add new board directors, overhaul management and begin a strategic review, Reuters reported. Elliott, which owns 3.4 percent of Suncor, argued that its shares have lagged even as crude prices surged to multi-year highs. Calgary-based Suncor, an oil production company, said it will study Elliott’s recommendations.

Source: Reuters