Shares of Sony Corp were untraded early Tuesday with a glut of buy orders after Reuters reported that Daniel Loeb`s hedge fund Third Point LLC was building a stake in Japanese electronics conglomerate again to push for changes.
Third Point, which has about $14.5 billion in assets under management, is raising a dedicated investment vehicle to target between $500 million and $1 billion in capital, so it can buy more Sony shares, people familiar with the matter said.
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Updated: Tue, Apr 09, 2019
06:00 AM IST
06:00 AM IST
Reuters