行動主義者 hedge 基金 Elliott takes 火刑／賭ける in UK's Saga
By Noor Zainab Hussain and Simon Jessop
July 17 (Reuters) - 行動主義者 投資家 Elliott has 公表する／暴露するd a 火刑／賭ける in Saga Plc いっそう少なく than a month after the specialist 観光旅行，事業 and 保険 会社／堅い 警告するd 割引ing was 傷つけるing its 小旅行するs 商売／仕事.
Saga has been trying to shake off its image as only serving "old people" and had begun rebranding after a 利益（をあげる） 警告 in April. The company is also looking for a new 長，指導者 (n)役員／(a)執行力のある officer after Lance Batchelor 発表するd his 出発 last month.
Elliott 資本／首都 助言者s 公表する／暴露するd a 5.14% 火刑／賭ける in Saga as of July 12, a とじ込み／提出するing showed on Wednesday.
"We have good and open relations with all of our 株主s and 推定する／予想する to be in 接触する with Elliott すぐに," a spokeswoman for Saga said.
Small-cap Saga's 株 rose as much as 8.6% に引き続いて the news. They were up 7.3% by 1021 GMT.
The 株, 広範囲にわたって held by 小売 投資家s since Saga floated at 185 pence in 2014, have 低迷d 58% this year and are 負かす／撃墜する 81% from their 頂点（に達する） in 2016.
One London-based 仲買人 said news of the 火刑／賭ける would 刺激（する） hope of a 管理／経営 shake-up.
Saga has already had a 一連の 上級の level 出発s in the last two years, 含むing those of its 長，指導者 財政上の officer and chairman. A source with knowledge of the 事柄 said no その上の changes were planned at 現在の.
Another source familiar with the 状況／情勢 said Saga was undervalued, but with a 井戸／弁護士席-regarded brand and 資産s that could be separated, 追加するing that 管理／経営 needed to review all the 選択s.
BlackRock took out a 0.6% short position in the Saga's 在庫／株 last week, によれば data from Britain's markets 監視者.
Short bets 伴う／関わる 支払う／賃金ing to borrow the 株 before selling them on to another 投資家, hoping to buy them 支援する at a lower price before returning the 在庫／株 to the 初めの owner.
Saga's 利益（をあげる） 警告 and continued 落ちる in market value have raised 関心s about Saga's 負債, which the comp any has been trying to 削減する.
In April, Saga said bookings were 傷つける by older Britons cutting 支援する on travel because of 不確定 over Brexit, with 利益（をあげる） liable to 落ちる by as much as 75 million 続けざまに猛撃するs this year.
This 示すd a 転換 for Saga, whose travel 商売／仕事 has been supported by spending from 豊富な pensioners, 保護するing it from a 消費者 spending 攻撃する，衝突する since Britain 投票（する）d to leave the EU in June 2016.
To help to 生き返らせる its 保険 商売／仕事, Saga 計画（する）s to 申し込む／申し出 home and 自動推進の 政策s with three-year 直す／買収する，八百長をするd pricing and 削減（する） prices for 再開s. 利ざやs at Saga's 小旅行するs 商売／仕事 have also been crimped by 競争の激しい 割引ing.
Russ Mould, 投資 director at AJ Bell, said given Saga had already 発表するd changes to its 保険 商売／仕事, "Elliott would need a 納得させるing argument to 押し進める for その上の change". He also said Elliott might want a say in the choice of new CEO, but would need a bigger 火刑／賭ける to do so.
Elliott's move comes as 最高の，を越す 10 U.S. 行動主義者 投資家s step up 投資s in Europe.
Elliott, with 資産s under 管理／経営 of about $35 billion, has a history of building up 少数，小数派 火刑／賭けるs in 引き継ぎ／買収 的s with a 見解（をとる） to 安全な・保証するing an 改善するd 企て，努力，提案.
New York-based Elliott most recently built up a position in フラン's Altran 科学（工学）技術s in the wake of a 3.6 billion-euro ($4.03 billion) buyout 企て，努力，提案 by its bigger 競争相手 Capgemini.
Since last year, the 基金 has acquired 火刑／賭けるs in a number of European companies 含むing Pernod Ricard, SAP and Telecom Italia. It also has a 火刑／賭ける in Bayer.
Elliott, Paul Singer's hedge 基金, committed $3.4 billion in new 資本／首都 in the first six months of 2019, data 収集するd by Lazard shows, より勝るing Carl Icahn who spent $2.8 billion.
(報告（する）／憶測ing by Noor Zainab Hussain in Bengaluru and 付加 報告（する）／憶測ing by Thyagaraju Adinarayan and Carolyn Cohn in London and Arno Schuetze in Frankfurt; editing by Patrick Graham/Louise Heavens/Deepa Babington/Jane Merriman)
