Activist Elliott builds $1B stake in Match Group – WSJ

Activist Elliott Funding Administration has gathered a roughly $1 billion stake in on-line courting service Match Group (NASDAQ:MTCH).

Elliott plans to debate with Match (MTCH), the dad or mum of Tinder, Hinge, and different courting platforms, concepts on fixing the corporate, in line with a WSJ report on Monday, which cited folks acquainted.

Elliott’s particular calls for or if the hedge fund plans to push for administrators to be added to the board wasn’t recognized, in line with the WSJ.

The Elliott stake comes as Match (MTCH) shares fell 12% final 12 months. Match rival Bumble (BMBL) dropped 30% final 12 months.

There was hypothesis in August that Match (MTCH) may very well be an activist goal after Nomura, which is seen as a counterparty for activist swap positions, added 6.6 million shares, Gordon Haskett’s Don Bilson highlighted on the time.

Elliott is without doubt one of the most excessive profile activist buyers and just lately took sizeable stakes in Phillips 66 (PSX) and

Crown Fortress (CCI).