Elliot, Air Liquide: Winter for Macron Brings Springtime for Hedge Funds

France is not a common hunting ground for activist hedge funds like billionaire Paul Singer’s Elliott Investment Management LP. Interventionist politicians, embedded trade unions and anchor investors with dominant shareholdings make it hard to agitate for corporate change — especially in an election year that will bring the era of Emmanuel Macron’s pro-business “banker-presidency” to a close.