Friday, 26 December 2014
Last updated 1 day ago
Jun 20 2013 | 11:36am ET
Third Point's proposal to partially spin-off Sony Corp.'s entertainment business was not on the agenda at today's annual shareholder meeting. But CEO Kazuo Hirai still managed to make clear that his is not a fan of the suggestion.
Speaking to shareholders at the Tokyo gathering, Hirai said that Sony Entertainment "plays an important role in Sony's future growth."
"This proposal strikes at the heart of what kind of company Sony ultimately will become in the future," he said. "We intend to take our time discussing it."
Third Point has pushed for a spin-off of up to 20% of Sony Entertainment. The hedge fund this week increased its stake in the electronics giant to about 7%, making it the company's largest investor, and again sought a board seat. Sony added three members to its board at the meeting.
Third Point founder Daniel Loeb did not attend today's gathering.
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.