Elliott’s aim is to get XPO to pay The inconveniences Elliott could throw at us could harm XPO's business. This borders on extortion. Elliott has gone too far and damaged their own agenda on this one. imo Say goodbye, Elliott.
'Other types of threats sufficient to constitute extortion include those to harm the victim's business and those to either testify against the victim or withhold testimony necessary to his or her defense or claim in an administrative proceeding or a lawsuit.'
XPO Logistics’ acquisition of French freight brokerage Norbert Dentressangle certainly seemed to be going smoothly enough. But the U.S. company had to gain a temporary injunction limiting a hedge fund from selling its stake in the French company, and WSJ Logistics Report’s Brian Baskin writes its an unexpected wrinkle in a deal that had appeared all but complete. The hedge fund, Paul Singer’s Elliott Management Corp., can’t stop XPO from taking control with its 7.5% stake. But it can prevent XPO from delisting Norbert Dentressangle shares in France, among other inconveniences, analysts say. Elliott’s aim is to get XPO to pay a premium to buy the hedge fund out – a rare roadblock in what has been a smooth ascent for acquisition-built XPO.
https://www.wsj.com/articles/todays-top-supply-chain-and-logistics-news-from-wsj-1436437677