I'm actually really interested to see what unfolds following the recent development in Sony's financial state. Will he be able to pull a spinoff from a Japanese company? Or will he hold this for the long-term while applying pressure on Sony's management to up their game.
One thing for sure, in September he changed all his shares registry to have Third Point as the owner (used to be proxy ownership), this way he can effectively call on board meetings and other activities. So it is clear he's cooking something up. But I cannot bet on that, too much speculation to play on.
Sony will hold an investor's event in the US on the 21st of November at Sony Pictures Entertainment headquarters, the potential spinoff. We'll probably hear more about this come that meeting. It is really funny how the meeting is held at the headquarters of the division everyone is discussing to spinoff. We will see what happens.
By the way, Chickentrader, did Loeb say he'll sell his shares if something happened? I can't recall him saying anything about selling the shares, but I might be wrong about this. Please correct/remind me.
Well, I don't know why you'd buy shares of a company when you don't like what management is doing. That's why I say he should put his money where his mouth is. He fancies himself an activist investor, but the only activism he's doing is for himself and his hedge fund buddies. He doesn't give two craps about anyone else, including management.