Paul Singer, founding father of Elliott Administration, talking at Delivering Alpha in New York on Sept. 13, 2016.
David A. Grogan | CNBC
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Activist hedge fund Elliott Administration is pushing for change at Public Storage, telling the corporate’s board in a letter that current modifications weren’t sufficient and that extra funding is required to enhance efficiency.
Public Storage disclosed on Sunday that it had been engaged in discussions with Elliott, with the hedge fund nominating six new director’s for the corporate’s board. The corporate introduced three new administrators on Sunday, however the hedge fund stated in a letter Monday that extra change was wanted.