Equinix gains after report Elliott boosts stake in data center operator
Shares of data center operator Equinix EQIX.O rise 2.4% to $796.50 premarket
Elliott Investment Management has built up its stake in Equinix and is pushing the data center operator to take steps to boost its share price, Bloomberg News reports, citing people with knowledge of the matter
The activist investor now has a large investment in the real estate investment trust that makes it one of the co's top 10 investors - report
EQIX did not immediately respond to a Reuters request for comment
Elliott owns 150,000 shares of EQIX as of March 31 - filing
Elliott frequently invests through derivatives that are not required to be disclosed and can result in a larger stake - report
The exact size of Elliott’s holding and its intentions could not be learned - report
Engagement between Elliott and EQIX is so far collaborative - report
As of last close, stock down ~18% this year
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