Thursday, 25 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.