The US activist investor Daniel Loeb has bought a stake in a Japanese retailer Seven & I Holdings. Though the details about stake and valuation are not revealed, Loeb-run hedge fund Third Point is believed to have acquired stake below five percent. After the sale, the Japanese retailer is expected to take up restructuring exercise enhance profitability, reducing underperforming merchandise stores. Seven & I Holdings operates over 18,000 outlets under the brand 7-Eleven across Japan. Seven & I has decided to shut about 40 unprofitable Ito Yodado stores in the next five years.
Billionaire investor Daniel Loeb said on Friday his hedge fund has taken a new position in Yum! Brands (YUM.N), sending the fast-food restaurant company's stock up nearly 7 percent.
Palo Alto, US-based cloud data service and enterprise software provider Apigee raised $60 million in new funding to expand its existing services beyond the basic application programming interface (API) technology.
Activist investor Daniel Loeb's Third Point Llc can no longer count on Rhode Island as one of its clients after the state's Investment Commission voted to pull out its investment in the hedge fund, Reuters reported.
Despite Daniel Loeb's assurance that he or his hedge fund Third Point LLC does not have any plans to ouster FedEx Corp founder, chairman and chief executive Fred Smith, an analyst said
The Nikkei said the registration of Third Point LLC ownership in Sony was strategic as hedge fund manager Daniel Loeb intended to pursue management changes and shareholder resolutions in the electronics company.
Daniel Loeb's New York-based hedge fund increases its stake in Sotheby's to 5.7%.
Daniel Loeb's hedge fund Third Point LLC purchased a USD113.7 million stake in Walt Disney Co.
Shares of Sony Corp fell 3% after it said no to the proposal of Daniel Loeb to sell one-fifth of its entertainment business.
The board of directors of Sony Corp said no to the proposal of Daniel Loeb to partially sell its entertainment business.
Sony Corp said that they are set to billionaire Danny Loeb's proposal to sell part of the company's unit through an initial public offering.
Activist hedge fund Third Point LLC decided to sell back 40 million worth of shares to Yahoo Inc.
Yahoo! entered into an agreement with Third Point to buy back 40 million worth of shares.
Third Point Re announced that they plan raise US$250 million through an initial public offering of its common stock.
Daniel Loeb, head of Third Point LLC proposed a partial spin off to Sony’s business unit to boost the struggling electronics division.