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Hedge Fund Third Point Pushes Sony To Pare Down Businesses

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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