- PPL Corp. ( NYSE: PPL ) rose 1.8% on some activist speculation after a 13-F filing from UBS on Wednesday.
- UBS disclosed it purchased over 9.1 million shares in 2Q for a total holding of 11.7 million shares. The addition by UBS is noteworthy because UBS in the past has been a counterparty to activists acquiring stakes in companies, Dealreporter noted in an item this morning.
- The news comes after PPL ( PPL ) last March agreed to sell its U.K. utility unit to National Grid , which made PPL a pure-play utility and gave it the potential for more M&A, according to Dealreporter. Even after the transaction closed, PPL shares are trading at the same level, suggesting an activist could enter to push for changes.
- Last month PPL was raised at Evercore ISI on 'minimal' regulatory risk through 2025.
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PPL Corp. gains on activist speculation following 13-F filing