Hedge Fund Third Point LLC Plans to take Stake in Sony

Daniel Loeb’s hedge fund Third Point LLC is reportedly building a stake in Sony Corp. (NYSE: SNE) to push for changes that include shedding some businesses, marking the second time in six years it has targeted the Japanese electronics maker, according to Reuters, citing people familiar with the matter. The reports of Third Point’s stake sent Sony shares surging by 8.2% during Monday’s trading hours. Since Sony’s peak stock price in lat....