Published on 26th January 2014
US activist investors are plotting to force Tesco, Sainsbury’s and Morrisons to split off their property holdings, the Sunday Times reported. The plan, led by activist fund Elliott, would require them to put their property holdings into separate companies and to sell minority stakes on the stock exchange. The move would attract investors who would attach a higher value to the properties. Elliott bought small stakes in each of the retailers last year and has not yet revealed its plan to the retailers, whose combined property estates are worth almost £50bn, more than their joint stock market value of £38.6bn.