(Reuters) – Two shareholders of U.S. utility Sempra Energy – Elliott Management and Bluescape Resources Co – on Monday recommended six new directors for the company’s board and urged a strategic review of its business.
The hedge funds said Sempra was highly undervalued and could be worth an additional $11 billion to $16 billion, that could value the company at $139-$158 per share.
Shares of Sempra were up 5.5 percent at $107 premarket trading.
Reporting by Laharee Chatterjee in Bengaluru; Editing by Saumyadeb Chakrabarty
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