Saturday, 1 August 2015
Last updated 22 hours ago
Apr 24 2013 | 11:17am ET
Activist hedge fund ValueAct Capital Management has taken a $2 billion stake in software giant Microsoft Corp.
ValueAct founder Jeffrey Ubben disclosed the huge investment at a Monday investor conference. Ubben said that Microsoft was undervalued.
"It is a dominant software company," Ubben said. "In the long term, it will win out." Ubben also praised Microsoft's work on cloud computing, noting, "Microsoft could be the largest cloud company in the world."
Microsoft said it welcomes "the perspectives of shareholders," and that it is "committed to enhancing value for all shareholders, and will continue to take actions that we believe will enable us to achieve this objective."
ValueAct did not specify how many shares it owned, but a $2 billion stake would amount to less than 1% of Microsoft.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…