Monday, 26 September 2016
Last updated 4 hours ago
Jun 25 2013 | 10:20am ET
Pine River Capital Management doesn't appear to hold out much hope that Third Point's Daniel Loeb will succeed in his activist campaign to transform Sony Corp.
The hedge fund is shorting the electronics giant's shares, ValueWalk reports. Pine River opened its short before the beginning of the year, months before Loeb bought a large stake in the company and began pushing it to partially spin-off its entertainment division.
Shareholder activism has not proven terribly successful in Japan, and Sony seems cool to Loeb's plans.