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Activist investor Elliott Investment Management has taken a more than $2 billion stake in Crown Castle (NYSE:CCI) and is expected to push for change at the owner of wireless towers.
Elliott plans to engage with the company to try to boost its share price after accumulating the stake, according to a WSJ report on Sunday, which cited people familiar with the matter. If Elliott decides to run nominees for the Crown Castle’s (CCI) board next year, the window for nominations runs from Jan. 18 through Feb. 17.
Crown Castle (CCI) has a market cap of about $45 billion.
News of the Elliott stake comes after the prominent activist hedge fund first disclosed a stake in Crown Castle (CCI) in July 2020, saying at the time that it had amassed a $1 billion position.