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Shell comes under attack from Wall Street raider

The Telegraph

Shell comes under attack from Wall Street raider

Third Point demands energy giant place oil operations into a separate business after taking £545m stake

Shell has come under attack from a Wall Street raider demanding a break-up of the oil and gas giant after taking a stake worth about $750m (£545m).

Dan Loeb’s Third Point said it had been “a difficult two decades” for shareholders in the FTSE 100 company, which it claimed was now torn between conflicting interests over climate change.

He believed Shell should put its oil and refining operations into a separate business focused on returning cash to shareholders. 

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