Elliott targets Twitter, seeking CEO Dorsey's removal: sources
FILE PHOTO: Paul Singer, founder and president of Elliott Management Corporation, speaks at WSJD Live conference in Laguna Beach, California, U.S., October 25, 2016. REUTERS/Mike Blake/File Photo
NEW YORK - Activist hedge fund Elliott Management has built a stake in Twitter inc and is pushing for changes, a person familiar with the matter said on Friday. Founded by billionaire Paul Singer, New York-based Elliott is one of the world’s biggest activist investors and pushes for changes at prominent corporations to improve operations and ultimately the share price.
In after-hours trading, the share price of the microblogging and social network service jumped 7.7% to $33.20. CNBC reported that Elliott is seeking to push out Twitter CEO Jack Dorsey, who is also the CEO of Square . Dorsey is the only person who is the CEO of two publicly traded companies.Reporting by Svea Herbst-Bayliss; Editing by Sandra Maler
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