The $2 billion position marks the second time Elliott has taken a stake in Masayoshi Son’s conglomerate, the juggernaut behind the Vision Funds.
U.S. investment firm Elliott has a $2 billion position in SoftBank and is pushing the Japanese conglomerate to initiate a $15 billion share buyback program.
Elliott has a long history of work in Japan, which has seen a wave of reform that has made the country far friendlier to shareholders and drawn names like Warren Buffett., has made a name for itself through its Vision Funds but trades at a steep discount to its book value, or the value of its assets and investments.Elliot has a roughly $2 billion economic interest in SoftBank, according to the person. SoftBank's market capitalization is about ¥13.
Japan has become fertile ground for activist investors, as the country's historic reputation for shareholder unfriendliness has given way to a government- and Tokyo Stock Exchange-driven push for governance reform. Elliott has campaigned at other iconic Japanese firms, most recently at Mitsubishi Fudosan, as well as at Toshiba and at Dai Nippon Printing.
Son's most successful investment was a 2000 check to Alibaba for $20 million. It ended up being worth billions to SoftBank, which has since de-risked out of China and eliminated its Alibaba position.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elliott builds $2 billion position in SoftBank, pushes for buybackThe $2 billion position marks the second time Elliott has taken a stake in Masayoshi Son’s conglomerate, the juggernaut behind the Vision Funds.
Read more »
SoftBank shares jump up to 6.3% on report that Elliott Management's pushing for $15 billion in buybacksSoftBank shares hit a high of 9,572 Japanese yen on Wednesday, 6.32% higher than its Tuesday closing price of 9,003 yen, according to LSEG data.
Read more »
SoftBank shares jump up to 6.3% on report Elliott Management's pushing for $15 billion in buybacksSoftBank shares hit a high of 9,572 Japanese yen on Wednesday, 6.32% higher than its Tuesday closing price of 9,003 yen, according to LSEG data.
Read more »
Texas Instruments CEO signals alignment with activist Elliott's proposalsTexas Instruments CEO Haviv Ilan signaled an openness to speak with activist investor Elliott, and suggested that the company might adopt some of its proposals.
Read more »
Texas Instruments CEO signals alignment with activist Elliott's proposalsTexas Instruments CEO Haviv Ilan signaled an openness to speak with activist investor Elliott, and suggested that the company might adopt some of its proposals.
Read more »
Texas Instruments CEO open to activist Elliott's free cash flow proposalTexas Instruments CEO Haviv Ilan signaled an openness to speak with activist investor Elliott, and suggested that the company might adopt some of its proposals.
Read more »