Activist investor Elliott Administration Corp. has taken a stake in Noble Vitality Inc., the power explorer that agreed in July to promote to Chevron Corp. for about $5 billion.
The stake was disclosed in a submitting Tuesday with the U.S. Federal Commerce Fee.
Houston-based Noble Vitality and the New York-based hedge fund run by Paul Singer have been granted early termination beneath the FTC’s Hart-Scott-Rodino Act — a requirement when an investor buys shares in an organization above a sure threshold and seeks to carry discussions about things like technique or administration modifications.
The scale of the stake and Elliott’s intentions aren’t identified. Representatives for Elliott and Noble Vitality weren’t instantly out there for remark.
Chevron agreed to purchase Noble Vitality for the equal of roughly $10.38 a share on the time within the all-stock deal, a 7.5% premium during the last Friday’s shut. Noble Vitality buyers are anticipated to vote on the deal Oct. 2.
Noble fell almost 2% in buying and selling Tuesday to $9.52 a share as of 12:18 p.m. in New York.
Elliott has a historical past of shopping for stakes in firms and pushing for modifications, together with breaking apart potential transactions. It’s agitated at firms together with AT&T Inc., Twitter Inc., and Softbank Group Corp., amongst others.