Hedge funds pressure Whitbread to spin off Costa Coffee

Elliott Advisors, the FTSE 100 firm’s largest investor, believes breaking it up could create £3bn of valueWhitbread is under mounting pressure from hedge funds to break up its business by spinning off the Costa Coffee chain, after activist investor Elliott Advisors built up a stake of more than 6%.
The US hedge fund said in a statement on Saturday that it has become the largest investor in Whitbread, which started out as a brewing business but now owns Costa, Britain’s biggest