In Another Push, Elliott Calls on Hyundai to Boost Returns, Review Assets

In Another Push, Elliott Calls on Hyundai to Boost Returns, Review Assets
Paul Singer, founder and president of Elliott Management Corporation, speaks at WSJD Live conference in Laguna Beach, California, U.S., Oct. 25, 2016. Mike Blake/Reuters
|Updated:

U.S. hedge fund Elliott on Nov. 13 renewed pressure on South Korea’s Hyundai Motor Group, urging it to return $10.6 billion of capital to shareholders and consider selling non-core assets, including costly land it bought in Seoul for new headquarters.

The call came after Hyundai Motor posted a sharp drop in third-quarter earnings in late October, hitting its shares and dashing hopes of better shareholder returns.