Daniel Loeb’s Third Point Fund Ups Stake in Sotheby’s Shares

August 28th, 2013
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With his new 5.7 percent stake in Sotheby’s, activist investor and serious art collector, Daniel Loeb has become one of the renowned auction house’s largest shareholders. As reported by the New York Times’ Deal Book, Daniel Loeb’s investment, made through his flagship Third Point Fund, follows the recent investments by Nelson Peltz of Trian Partner’s (3 percent) and Mick McGuire of Marcato Capital’s (6.6 percent).

Known for his heavy-handed, boardroom antics, Daniel Loeb has given no indication as to his intentions with Sotheby’s. Following the announcement, Sotheby’s shares closed up at $47.21.
For Detailed Investor Profiles on these Investors, click below:
Marcato Capital Management
Third Point Management Company
Trian Group
Related People: Daniel Loeb; Ed Garden; James L. Carruthers*; Munib Islam; Nelson Peltz; Peter May; Richard “Mick” McGuire; Robert Schwartz; Tim Lash
Related Entities: Marcato II, L.P.; Marcato International Ltd.; Marcato, L.P.; Third Point LLC; Third Point Opportunities Master Fund LP; Third Point Resources LP; Third Point Ultra Master Fund LP; Third Point Ventures; Trian Capital; Trian Credit Partners; Trian Fund Management, L.P.; Triarc; Triarc Companies*; Wendy's/Arby's Group, Inc.(NYSE: WEN)
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles; Hedge Fund Spotlight Reports

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