We cannot help but to notice just how active the activist investor community has been. Activist investors are literally influencing hundreds of billions of dollars of value in companies right now. The latest acceleration comes from Elliott Management sending a letter to the shareholders of Hess Corp. (NYSE: HES).

The letter is on the heels of the company sending a letter of its own to shareholders saying that it is trying to protect the value of their investment by rejecting Elliott’s plan to break the company up. Elliott likely assumed that this was coming, as the activism efforts have run into resistance.

Elliott points out the stock is suffering from 460% underperformance, and it said that John Hess has no record to run on and has resorted to misrepresentations and scare tactics.

The Hess letter is here.

The Elliott letter is here, and Elliott even has the ReassessHess.com website to support its efforts.

Hess shares are up marginally today at $70.56, against a 52-week trading range of $39.67 to $72.63. Its market cap is nearly $24 billion.

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