Bloomberg
Activist Investor Dan Loeb Increases Shell Stake, Reuters Reports
(Bloomberg) — Dan Loeb’s Third Point LLC has increased its $750 million stake in the energy giant Shell Plc as the investor seeks to pressure the company to split up its businesses, Reuters reported.
Loeb has held discussions with Shell’s management, board members and other shareholders, according to a letter sent to Third Point investors and seen by Reuters.
The letter described the company’s stock price as cheap but said there could be gains ahead with “proper management,” according to Reuters.