ValueAct takes $2 bln Microsoft stake - CNBC

Mon Apr 22, 2013 10:04pm IST

The Microsoft logo is seen at their offices in Bucharest March 20, 2013. REUTERS/Bogdan Cristel/Files

The Microsoft logo is seen at their offices in Bucharest March 20, 2013.

Credit: Reuters/Bogdan Cristel/Files

Related Topics

Stocks

   

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.

FILED UNDER:
  • Most Popular
  • Most Shared

GOOGLE

Tech Showcase

Apple Settlement

Apple Settlement

Apple $450 mln e-book settlement gets final court approval.  Full Article 

Samsung Complain

Samsung Complain

Samsung files ITC complaint to block Nvidia chips from U.S. - Bloomberg.  Full Article 

Jeep SUVs

Jeep SUVs

Chrysler says it will speed up recall repairs for Jeep SUVs.  Full Article 

Internet Rules

Internet Rules

Any new U.S. Internet rules must withstand lawsuits - FCC chief.  Full Article 

Amazon's Plan

Amazon's Plan

Amazon plans ad-supported video streaming service - NY post.  Full Article 

Cellphone Upgrade

Cellphone Upgrade

Mobile phones to get handy upgrade.  Video 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage