In a letter to Suncor’s chairman, Elliott said it would push for an overhaul of the Calgary company’s operational and safety standards, a leadership review and the placement of five independent board members to “oversee the necessary change.” Suncor’s stock leapt more than 11 per cent on the news as of Thursday afternoon. (The Logic)

Talking point: Elliott is one of the world’s largest activist investors. Its decision to muscle into Suncor’s operations marks a striking development for one of Canada’s preeminent oil-sands producers, which has missed recent performance targets. Suncor’s share price has lagged its peers, Elliott said in the letter, falling 137 per cent behind its nearest rival, Canadian Natural Resources. The letter also said the company’s workforce has suffered 12 fatal accidents since 2014, requiring a review of its safety standards. The West Palm Beach, Fla.-based investor blamed Suncor’s struggles on a “slow-moving, overly bureaucratic corporate culture” that demands “decisive, immediate action.”