Elliott Management is closing in on victory in its long-running battle with Hong Kong’s Bank of East Asia, as the city’s last large family-owned lender starts discussions about a sale of its banking operations.
The two sides in March called a truce in a fierce, six-year conflict for control, announcing a strategic review of the bank’s assets conducted by Goldman Sachs.
Elliott, run by billionaire Paul Singer, bought a significant stake in BEA in 2014 and has long pushed for the controlling Li family to sell the business it founded in 1918.
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