Activist investor Daniel Loeb, who wants Royal Dutch Shell Plc to break apart, applauded the energy giant’s decision to move its headquarters even as he sticks to views that a different corporate structure would make it more successful.
Loeb, who said in October that his hedge fund Third Point LLC had taken a $750 million stake in the company, told his own investors on Friday that he has added to his Shell stake and has held discussions with management, board members and other shareholders.
The letter, which was seen by Reuters on Saturday, called the discussions “constructive” and said that the company’s stock price is currently cheap but sees gains ahead with “proper management.”—Agencies
