UPDATE: Sony (SNE) Will Not Spin Entertainment Unit - Nikkei
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Loeb's Third Point Issues Q2 Investor Letter: Still Sees Turnaround in Sony (SNE)
July 29, 2013 3:12 PM EDTDan Loeb's Third Point hedge fund sent out a letter to investors today.
On Yahoo! (Nasdaq: YHOO), Loeb noted selling about two-thirds of his stake in the company while removing three nominee's to the company's board. Loeb comments, Since Third Point initiated its position, over $15 billion of value has been created, growing the companys market cap from $15 billion to $30 billion today, while over $5.2 billion of cash has been returned to shareholders. Since Third Point made The Case for Alibaba in our original investment presentation, our Fourth Quarter 2011 Investor Letter, and on our... More
