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Microsoft Rises as ValueAct Discloses $1.9 Billion Stake

Microsoft Corp., the world’s largest software maker, rose the most in a year after activist investor ValueAct Holdings LP amassed about a $1.9 billion stake.

The shares increased 3.6 percent to $30.83 at the close in New York, the biggest gain since April 20, 2012 and the highest closing price since Sept. 21. The shares have advanced 15 percent this year, compared with a 9.6 percent gain for the Standard & Poor’s 500 Index.