Elliott Investment Management bought a considerable stake in Starbucks Corporation, The Wall Street Journal reported on Friday citing sources briefed on the matter.
According to the information given by the sources, Elliott has been in contact with the business in recent weeks, behind the scenes, talking about how the latter's stock could be raised. There is a possibility that the two might reach a deal in private soon.
It was left unsaid how many shares Elliott exactly acquired. Starbucks' stock popped 5.42% following the report.
