Paul Singer's activist hedge fund, Elliott Management, has built up over a $2.5 billion stake in SoftBank Group, intending to push the tech giant to make changes that would increase its share price—according to a report by skleb1234
, as it looks to push for stock buybacks and improved corporate governance in an effort to boost the tech giant’s share price, according to theWhile SoftBank shares surged 9% on the news Thursday, the stock has lagged in recent months, especially after taking big hits on its investments in losing startups like WeWork. Before today, SoftBank shares were down almost 15% over the last six months.
New York-based Elliott Management is one of Wall Street’s largest activist hedge funds—with some $35 billion in assets under management. The fund has aIt was founded in 1977 by billionaire Paul Singer, who is known for his high-profile and often combative dealmaking.
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