Activist Elliott reportedly has a significant stake in Starbucks, in talks with management

Elliott Management has acquired a significant stake in coffee chain Starbucks and is working with the company’s management to enhance its share price. The move has caused Starbucks shares to increase by 5%. Elliott Management is a renowned activist investor and one of the largest hedge funds globally. It has recently taken substantial positions in various companies such as Southwest, SoftBank, Johnson Controls, and Texas Instruments. Details about the size of Elliott’s stake and its specific demands remain unknown, but a resolution may be reached through negotiation. Starbucks has faced challenges in recent years, resulting in leadership changes and disappointing quarterly results. CEO Laxman Narasimhan has expressed the need for store improvements.