U.S. hedge fund Third Point LLC, which had been pressing Sony Corp to make changes including spinning-off of its chip unit, has sold all of its ...
U.S. hedge fund Third Point LLC, which had been pressing Sony Corp to make changes including spinning-off of its chip unit, has sold all of its American Depositary Receipts in the Japanese conglomerate, regulatory filings showed.
The fund, headed by one of the world's highest-profile activist investors, Daniel Loeb, still owns a large amount of Sony's Japanese stock, a person familiar with the fund said.The sale comes just over a year since sources told Reuters that Third Point was raising an investment vehicle targeting US$500 million to US$1 billion in capital to buy Sony shares.
The number was 675,000 at the end of March and, as at the end of June, latest filings no longer listed Sony.
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