Elliott Restarts Hess Feud, May Seek Ouster of Founder's Son
- Activist fund joined by other shareholders in push for changes
- Calling for oil producer to sell assets in Southeast Asia
Tug boats transport the Hess Corp. Stampede tension leg oil platform, towed from Kiewit Offshore Services Ltd., past Port Aransas, Texas, U.S., on Friday, May 5, 2017.
Photographer: Eddie Seal/BloombergThis article is for subscribers only.
Elliott Management Corp. is reigniting a four-year-old feud with Hess Corp., calling for Chief Executive Officer John Hess to fix the oil producer his father founded or get out.
The activist hedge fund is being joined by other shareholders in its renewed quest for changes to the New York-based oil company. John Hess hasn’t been responsive enough to the discontented investors, who have been expressing frustration for months, according to people familiar with the matter who asked not to be identified because the talks were confidential.