Apr 16, 2018

Elliott stakebuilding ups ante on potential Whitbread break-up

The emergence of Elliott Advisors as a major shareholder in Whitbread increases the likelihood that the coffee to hotels group will be broken up and could herald a wider change of strategy, analysts and investors have said. Activist shareholder Elliott has acquired the equivalent of 6 per cent of Whitbread shares, mostly via contracts for difference. Whitbread shares closed at £42.18 on Monday - more than 7 per cent higher and a similar gain to that seen after Sachem's involvement was disclosed. Without Costa's cash flow, Premier Inn might have to slow expansion, make more use of leaseholds, or borrow more. Whitbread chief executive Alison Brittain is open to a sale of Costa at the right price.

Read the full story

 Related companies

Make a complaint about Premier Inn by viewing their customer service contacts.