Elliott Wants To Merge Board Slates At Hess Corporation

Activist hedge fund Elliott Management Corporation said Tuesday that it has proposed a new reconstituted board for Hess Corp. (NYSE:HES) that will include all nominees of the company as well as its own nominees.

Elliott Capital Management, which holds a 4.52 percent stake in the New York-based energy company, has been pushing to get its slate of five nominees elected to Hess Corp. (NYSE:HES)’s board. The company is running its own slate of nominees.

The activist shareholder said the size and composition of the board would be agreed upon at a later date.

Elliott’s Statement

Elliot said in a statement: “Consistent with Hess’s promise to refresh...