Loeb`s Mr. Nice Guy act, coming to an end!Third Point Lifts Sony Stake, Urges Spin Off
Looks like Dan is getting a bit fed up with attempting to play nice with SNE BOD and has gotten a bit more aggressive by purchasing additional stake in SNE. Now he`s urging the Japanese electronics giant to spin-off its entertainment business.
This fight is going to start getting FUGLY!
Third Point has raised its stake to 70 million shares valued at 136.5 billion yen ($1.4 billion), and reiterated his call to spin-off Sony's entertainment division and offer to sit on Sony's Board of Directors.
Without a doubt the value of the spinoff is worth somewhere north of 40ps and if put to a vote majority of Sholders will vote unanimously to see this occur.
I applaud Kazuo Hirai for what he`s accomplished since taking over SNE,but, now its time to start listening to its shareholders and do what needs to be done!
I`m going to continue to add to my SNE position knowing full well, this might take some time but in the end will happen!