Deals
Loeb’s Third Point Reports Yahoo Stake, Cuts El Paso Stock
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Third Point LLC, the hedge fund run by Daniel Loeb, acquired most of his stake in Yahoo! Inc. in the third quarter, amid efforts to force changes at the Internet search company, according to a regulatory filing today.
Third Point, based in New York, had 48 million common shares, valued at $632 million, of the Sunnyvale, California-based company at the end of the quarter, before adding another 8 million shares after Sept. 30, according to regulatory filings and data compiled by Bloomberg.