Atticus Raises its Paddle with SAC for Sotheby's
| June 23rd, 2009 | ||
| On June 18th, hedge fund manager Atticus Capital revealed in a filing with the Securities Exchange Commission that it had acquired a 5.4% stake, or 3,584,110 shares, in New York auction house Sotheby's (NYSE: BID). While Atticus is known for being an activist investor, the position was filed as a passive investment. With its investment, Atticus has become Sotheby's third largest investor. Steven A. Cohen’s hedge fund firm, S.A.C. Capital Advisors, is the company’s second largest investor, holding approximately 6.2% of Sotheby's shares out. Unlike Atticus’ founder Timothy Barakett, Mr. Cohen is known as one of the biggest art collectors in the world. Mr. Cohen regularly acquires high-end art pieces for often astronomical sums. Mr. Barakett founded Atticus in 1995. The firm manages the Atticus Capital Partners, Atticus European, and Attitcus Global hedge funds. Atticus is headquartered in New York with an office in London. | ||
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For Detailed Investor Profiles on these Investors, click below: |
Atticus Capital |
SAC Capital Advisors |
Related People: David Slager;
Related Entities: Attara Capital LP;
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles
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