Thursday, 27 November 2014
Last updated 16 hours ago
May 31 2013 | 12:09pm ET
Sony has hired a pair of investment banks to help it consider Third Point's proposal that it spin-off its entertainment unit.
The Japanese conglomerate is working with Citigroup and Morgan Stanley, Bloomberg News reports. Sony will look closely at the proposal, made by Third Point's Dan Loeb earlier this month, CEO Kazuo Hirai said.
"It's something that needs to be discussed at the board level and discussed thoroughly," Hirai said.
Third Point, which owns a 6% stake in Sony, is pushing the company to hold an initial public offering for up to 20% of Sony Entertainment. Loeb also wants the company to slash costs in its flagship electronics division and to cut back on other non-core investments.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...