Activist investor Corvex calls for strategic review at Premier Inn-owner Whitbread

Dec ‌18 (Reuters) - Activist investor Corvex Management LP ‍urged ‌Premier Inn owner Whitbread to review its five-year ⁠3.5-billion-pound ($4.68 billion) ‌capital plan on Thursday, citing a gap between its share price and market value after ⁠recent budget changes.

The U.S.-based hedge fund disclosed a 6% ​stake in the British company and ‌said it also ⁠intends to seek representation on the Whitbread board.

"We believe the company must evaluate ​all available strategic options with the objective of maximising value for all shareholders," Corvex said in a statement.

Whitbread did not ​immediately ‍respond to a ​Reuters request for comment.

Last month, the firm said that Britain's latest budget measures will cost it 40–50 million pounds in the next fiscal year, a move analysts ⁠branded a "hammer blow" to its five-year strategy.

Corvex was founded by ​Keith Meister, the former protégé of Carl Icahn who also headed the billionaire activist's investment firm for a ‌couple of years.

($1 = 0.7483 pounds)

(Reporting by Yamini Kalia in Bengaluru; Editing by Janane Venkatraman)