11:02 AM EST, 02/13/2025 (MT Newswires) -- Elliott Investment Management is urging BP (BP) to make drastic divestments and cost cuts to boost its future as a standalone company, Bloomberg reported, citing people familiar with the matter.

Elliott has built up a nearly 5% stake in BP, worth around 3.7 billion British pounds ($4.6 billion), the people reportedly told Bloomberg.

BP and Elliott did not immediately reply to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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