LONDON, February 15, 2016 /PRNewswire/ --
Elliott, which has an overall economic interest in shares of Ansaldo STS representing 19.5% of the issued share capital of the company, announced today that it believes Hitachi Rail Italy Investments' revised EUR 9.899 per share offer for Ansaldo STS continues to significantly undervalue the company, as originally indicated in the press release issued on February 1, 2016 and therefore currently intends not to tender the shares it owns (representing 10.7% of the company).
Elliott Associates, L.P. and Elliott International, L.P. together have approximately $27 billion of assets under management. Founded in 1977, Elliott is one of the oldest investment funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.