Heard on the Street: Daniel Loeb seems to be taking another shot at Sony. He failed to rally support for a spinoff of movie and music assets in 2013 and he may fail again.
Activist investor Daniel Loeb seems to be taking aim at Sony for the second time in six years. He failed to rally support for a spinoff of movie and music assets in 2013, and he may fail again.
Shares in the Japanese company jumped 9% Tuesday after Reuters reported that Third Point, Mr. Loeb’s $14 billion New York-based hedge fund, is building a stake to push for changes, including the sale of assets. The fund has tried this before: It amassed as much as 7% of Sony in 2013, after a weak couple of years for the stock, and asked...
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