Singer Versus Son: Billionaires Playing Nice, for Now
- Both agree that SoftBank shares are highly undervalued
- Elliott could also push for buybacks and investment oversight
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Paul Singer earned his reputation as a take-no-prisoners brawler by challenging the interests of Argentina’s government and South Korea’s family businesses. With his latest investment, though, the American activist investor appears to be taking a more collaborative approach.
Singer’s Elliott Management Corp. took a stake of almost $3 billion in SoftBank Group Corp., saying the Japanese company’s shares are woefully undervalued compared with its assets. That’s exactly the argument SoftBank founder Masayoshi Son has been making for years.