April 9, 2019 / 12:15 AM / 7 months ago

Sony shares seen surging after Reuters reports Third Point building stake again

TOKYO, April 9 (Reuters) - 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. (Reporting by Makiko Yamazaki Editing by Chang-Ran Kim)

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