Sony shares surge on report Third Point's Daniel Loeb is building a stake
Shares of Japanese electronics conglomerate Sony surged Monday after a report that Daniel Loeb's hedge fund Third Point is building a stake in the company and plans to agitate for changes.
Third Point, which oversees about $14.5 billion in assets, declined to comment on this article. Sony did not respond to CNBC's request for comment. However, Third Point does hope Sony will consider certain strategic options for some of its business segment. The hedge fund believes that Sony's movie studio has garnered takeover interest from the likes of Amazon and Netflix, sources familiar with the situation told Reuters.
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