Elliott Investment Management

Money Moves

Holds roughly 5% of BP; key driver of restructuring

BP has operated the Gelsenkirchen refinery complex in western Germany since 2002. On March 19, it agreed to sell the 265,000-barrel-per-day facility and its 1,800 workers to Klesch Group, an independent European refiner with a record of buying distressed assets from oil majors. The same day, BP raised its cost-reduction target by another billion dollars to $6.5–7.5 billion by 2027—the second increase in five weeks.

Updated Mar 19

Money Moves

Cooperation agreement with Honeywell; board seat secured

Honeywell has been a conglomerate for over a century, bundling aerospace engines, building thermostats, and specialty chemicals under one corporate roof. On March 3, 2026, it filed the paperwork to end that era, registering its $17.4 billion aerospace division as an independent company that will trade on Nasdaq under the ticker HONA. The filing is the second of three planned separations that will split Honeywell into entirely distinct publicly traded companies by late 2026.

Updated Mar 3

Money Moves

Major PepsiCo shareholder pushing restructuring

For six years, major food companies raised prices relentlessly—snack prices alone climbed 38% between 2020 and mid-2024. Now the biggest players are reversing course. PepsiCo announced price cuts of up to 15% on Lay's, Doritos, Cheetos, and Tostitos this week, just ahead of the Super Bowl. General Mills has discounted roughly two-thirds of its North American products. The era of pricing power may be over.

Updated Feb 3