Elliott Arranges Margin Loan Backed by Western Digital Gains

Royal Bank of Canada to lend against Elliott's Western Digital shares

Elliott Investment Management is preparing to tap into roughly $1 billion of gains that it earned through an activist campaign at Western Digital Corp.

Devonian II ICAV, one of Elliott’s Irish affiliates, entered into an October 31 margin loan agreement with Royal Bank of Canada, according to a regulatory filing. Devonian can secure the loan with West…