Elliott said to have built large stake in Hewlett Packard, shares jump

(Sharecast News) - Elliott Investment Management has reportedly built a position worth more than $1.5bn in Hewlett Packard Enterprise Co. Bloomberg cited people familiar with the matter as saying that Elliott plans to engage with the software and networking company to help it boost value.

The investment makes Elliott one of the company's top five shareholders, according to data compiled by Bloomberg. Elliott's exact intentions at HPE couldn't be immediately learned.

At 1515 BST, shares in HPE were up 6.2% at $15.18.