RTTNews | May 17, 2021 09:56PM EDT

21:56 Monday, May 17, 2021 (RTTNews.com) - Activist investor Elliott Management Corp. has urged Duke Energy Corp. (DUK) to consider separating into three regionally focused utility companies, arguing that the plan will create at least $12 billion to $15 billion of line-of-sight near-term value for shareholders.

In a letter to Duke's board, Elliott said that the three companies would be based on the three major geographies it serves: the Carolinas, Florida and the Midwest.

Meanwhile, Duke Energy said the announcement by Elliott is the latest in a series of proposals that the hedge fund has offered to Duke Energy since July 2020. Throughout, Duke Energy's board has reviewed their proposals in depth and determined that they are not in the best interests of the company, its shareholders and other stakeholders.

Duke Energy noted that it will review Elliott's latest proposals as well and the company is always open to new ideas to create growth and value. However, Duke Energy and its Board will always advocate for the best long-term interests of its shareholders and other stakeholders over any narrow special or short-term interest.

Read the original article on RTTNews ( https://www.rttnews.com/3195458/elliott-management-urges-duke-energy-to-separate-into-three-companies.aspx)

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