Sony shares seen surging after Reuters reports Third Point building stake again
Sony shares seen surging after Reuters reports Third Point building stake again
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.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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