(Reuters) – Hedge fund Elliott Investment Management has built a stake of more than $1.5 billion in server maker Hewlett Packard Enterprise, Bloomberg News reported on Tuesday.
Shares of the company rose more than 7% after the report.
The investment makes Elliott one of the company’s top five shareholders, but the storied activist investor’s exact intentions with the company haven’t been determined, Bloomberg reported, citing people familiar with the matter.
Elliott Investment and Hewlett Packard Enterprise did not immediately respond to Reuters’ requests for comment.
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Leroy Leo)
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