Activist investor targets Hewlett Packard by reportedly building $1.5B stake
1. Elliott Investment Management acquired a $1.5 billion stake in HPE. 2. News increased HPE's stock by nearly 5%, despite a 30% year-to-date decline. 3. HPE plans to cut $350 million costs by fiscal 2027 and reduce workforce. 4. Justice Department seeks to block HPE's acquisition of Juniper Networks. 5. Elliott aims to engage management and may push for changes at HPE.