{"id":116448,"date":"2021-06-15T01:44:01","date_gmt":"2021-06-15T01:44:01","guid":{"rendered":"https:\/\/fin2me.com\/?p=116448"},"modified":"2021-06-15T01:44:01","modified_gmt":"2021-06-15T01:44:01","slug":"loebs-u-s-hedge-fund-third-point-owns-vivendi-stake-source","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/loebs-u-s-hedge-fund-third-point-owns-vivendi-stake-source\/","title":{"rendered":"Loeb's U.S. hedge fund Third Point owns Vivendi stake – source"},"content":{"rendered":"

(Reuters) – Billionaire hedge fund manager Daniel Loeb\u2019s Third Point owns a substantial stake in Vivendi SE and is \u201cevaluating\u201d the French media giant\u2019s plan to sell a stake in its Universal Music Group to rival billionaire investor William Ackman, a source familiar with the firm\u2019s holdings said on Monday.<\/p>

FILE PHOTO: French media giant Vivendi’s logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, France, August 12, 2020. REUTERS\/Charles Platiau\/File Photo<\/figcaption>

New York-based Third Point has been invested in Paris-based Vivendi for some time, the person said, requesting anonymity because the matter is private.<\/p>\n

A Vivendi spokesman on Monday said, \u201cThe company has yet to see any evidence of a stake being built,\u201d in response to a question about the Third Point holding. A Third Point representative declined to comment.<\/p>\n

Third Point\u2019s stake was first reported by Bloomberg.<\/p>\n

Vivendi has become popular with certain investors ever since it announced plans to spin off 60% of Universal. Earlier this month Ackman said his blank-check company Pershing Square Tontine Holdings is planning to buy 10% of Universal before the planned spinoff.<\/p>\n

Vivendi, controlled by French tycoon Vincent Bollore, last month set out a plan to list Universal, the world\u2019s largest music group, by Sept. 27.<\/p>\n

Investors will have a chance to vote on the proposed spinoff later this month and some have already expressed reservations.<\/p>\n

Activist fund Bluebell Capital Partners and investment fund Artisan Partners have raised concerns about the spinoff, decrying the transaction as unfavorable to some investors.<\/p>\n

Glass Lewis and ISS, the world\u2019s two biggest proxy advisers,<\/p>\n

have recommended Vivendi shareholders vote in favor of the<\/p>\n

spinoff plans.<\/p>\n

Third Point is trying to evaluate what Ackman\u2019s proposal would mean for Vivendi shareholders and has not commented publicly about the matter.<\/p>\n

Loeb and Ackman, both prominent New York hedge fund managers, have crossed on other investments, including Herbalife and United Technologies, for example, and sometimes taken differing approaches.<\/p>\n

Loeb has had his own blank check company and invested in a number of others, according to letters to his investors and regulatory filings. He did not invest with Pershing Square\u2019s Tontine Holdings, which counts other prominent hedge funds as investors.<\/p>\n

($1 = 0.8247 euros)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Billionaire hedge fund manager Daniel Loeb\u2019s Third Point owns a substantial stake in Vivendi SE and is \u201cevaluating\u201d the French media giant\u2019s plan […]<\/p>\n","protected":false},"author":3,"featured_media":116447,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nLoeb's U.S. hedge fund Third Point owns Vivendi stake - source - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/loebs-u-s-hedge-fund-third-point-owns-vivendi-stake-source\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Loeb's U.S. hedge fund Third Point owns Vivendi stake - source - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – Billionaire hedge fund manager Daniel Loeb\u2019s Third Point owns a substantial stake in Vivendi SE and is \u201cevaluating\u201d the French media giant\u2019s plan [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/loebs-u-s-hedge-fund-third-point-owns-vivendi-stake-source\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-15T01:44:01+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/06\/Loebs-U.S.-hedge-fund-Third-Point-owns-Vivendi-stake-source.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/loebs-u-s-hedge-fund-third-point-owns-vivendi-stake-source\/\",\"url\":\"https:\/\/fin2me.com\/markets\/loebs-u-s-hedge-fund-third-point-owns-vivendi-stake-source\/\",\"name\":\"Loeb's U.S. hedge fund Third Point owns Vivendi stake - 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