BP Shares Jump After Activist Investor Elliott Builds Stake (3)

BP Plc shares surged the most since 2020 after one of the world’s most aggressive activist investors built a stake in the company, seeking to end years of under-performance by pushing for significant change.

Elliott Investment Management, led by Paul Singer, has amassed a significant holding in the British energy giant, Bloomberg reported on Saturday. This is typically the first step in a playbook it has deployed successfully at many other big public companies. Over the years, the fund’s efforts have led to strategy shifts, CEO departures and even corporate breakups.

Paul Singer

Photographer: Misha Friedman/Bloomberg

“We think any activist would call for ...