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Hedge Fund Third Point Pushes Sony To Pare Down Businesses

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Hedge Fund Third Point Pushes Sony To Pare Down Businesses

Dan Loeb's hedge fund Third Point is calling on Sony Corp (NYSE: SNE) to spin off its semiconductor business, according to Reuters.

Loeb published a letter and presentation pushing for changes at Sony, the sale of its insurance business and its stake in companies like Spotify Technology SA (NYSE: SPOT). 

Sony shares were trading higher by 1.87% at $50.60 in Friday's premarket session. 

Related Links: 

Sony Laser Projectors Honored as Best of Show During InfoComm

Microsoft, Sony Team Up To Work On Gaming Experiences, AI Solutions

Posted-In: ReutersNews Hedge Funds Media General Best of Benzinga

 

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