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Activist investor Elliott owns "significant" stake in Toshiba as review conducted

NEW YORK/TOKYO, Sept 30 (Reuters) - Hedge fund Elliott Management said it owns a "significant" stake in troubled Japanese industrial conglomerate Toshiba Corp (6502.T), which is conducting a strategic review amid pressure from other investors that could include a sale of the company.

Elliott, one of the world's most powerful activist investors, which oversees some $48 billion in assets, has been invested in Toshiba since 2017 but recently increased its holding to just under 5%, making it a top 10 investor, people familiar with the firm's investments said.

The New York-based firm's announcement comes just months after Effissimo Capital Management, Farallon Capital Management and other shareholders ousted Toshiba's chairman after the company was found to have colluded with the Japanese government to put pressure on foreign investors.

"Our investment in Toshiba reflects our strong conviction in the company's underlying value," Elliott, which prefers to conduct its negotiations out of the public spotlight, said in the statement. read more here

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