ValueAct takes $2 bln Microsoft stake - CNBC
REUTERS - Activist investor ValueAct Capital has taken a $2 billion stake in Microsoft Corp (MSFT.O), CNBC reported on Monday, and Microsoft shares leapt to their highest point in seven months.
CNBC's David Faber reported the stake. A representative of ValueAct was not immediately available to comment.
Microsoft shares rose 4.4 percent to $31.06, touching their highest levels since last September. With Monday's gains, the stock is up 16 percent this year, putting it on track for its best annual performance since 2009.
One of the chief complaints of Microsoft's investors is that the stock is little changed today from where it was 11 years ago.
At Friday's closing price, a $2 billion stake would represent about 67.2 million shares. That represents less than 1 percent of Microsoft but would be enough to make ValueAct a top-15 investor in the company, based on Thomson Reuters data.
ValueAct describes its management as being experts in "sourcing investments in companies they believe to be fundamentally undervalued, and then working with management and the company's board to implement strategies that generate superior returns on invested capital."
Most recently ValueAct was involved in pushing industrial machinery maker Gardner Denver Inc GDI.N to sell itself, an effort that culminated in a $3.
- Tweet this
- Share this
- Digg this
- Missing Air Algerie plane from Burkina Faso has crashed - Algerian official
- Alabama man sues, claiming penis amputated instead of circumcised
- Taiwan launches inquiry into plane crash that killed 48
- Wipro sees strong sales growth, eyes Europe deals
- Honda's Mobilio car looks to repeat Indonesia success in India
Amazon.com Inc's new "Fire" smartphone features "gimmicks" - such as 3D effects and object scanner - that may not be enough to entice users away from similarly priced Apple Inc iPhones and Samsung's Galaxy S5, reviewers said. Full Article
Google under fire from regulators over response to EU privacy ruling. Full Article
Flaws could expose users of privacy-protecting software, researchers say. Full Article
China regulator determines Qualcomm has monopoly - state-run newspaper. Full Article