Elliott Is Said to Take HPE Stake Worth Over $1.5 Billion (2)

Elliott Investment Management has built a position in Hewlett Packard Enterprise Co.worth more than $1.5 billion, according to people familiar with the matter.

Elliott plans to engage with the software and networking company to help it boost value, said the people, who asked to not be identified because the details aren’t public. The investment makes Elliott one of the company’s top five shareholders, according to data compiled by Bloomberg. Elliott’s exact intentions at HPE couldn’t be immediately learned.

HPE shares, which jumped as much as 8.8% Tuesday, closed up 5.1% to $15.01 in New York trading, giving the ...