Elliott’s Sempra Bid Is a Warning to Utilities Who Dare to Branch Out
In targeting California power giant Sempra Energy for a major overhaul, billionaire investor Paul Singer may have just inadvertently delivered a warning shot to all of America’s growth-starved electric utilities. Singer’s Elliott Management Corp. and Bluescape Resources Co. said Sempra’s share price has underperformed its peers and its “achievable value” in their call for the company to go back to basics.