January 12, 2018 / 9:05 PM / 9 months ago

D.E. Shaw takes stake in Lowe's: CNBC

(Reuters) - Hedge fund D.E. Shaw & Co has built an active stake in home improvement chain Lowe’s Cos Inc (LOW.N), CNBC reported on Friday, citing sources.

FILE PHOTO: An employee stands outside a Lowe's home improvement chain in Austin, Texas, U.S., February 27, 2017. REUTERS/Mohammad Khursheed/File Photo

D.E. Shaw is concerned about Lowe's performance relative its peers and is not pushing for consolidation with another home retailer at this time, according to the report. (cnb.cx/2Daaw3y)

Lowe’s shares touched a record high of $102.28 in late-afternoon trading.

Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta

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