Hedge fund Third Point calls on Sony to spin off businesses

June 13, 2019

(Reuters) – Daniel Loeb’s activist hedge fund Third Point LLC called on Sony Corp on Thursday to spin off its entertainment and semiconductors businesses into separate companies, the second time in six years it has targeted the Japanese electronics maker.

Sony should also consider selling its stakes in Sony Financial Holdings Inc, M3 Inc, Olympus Corp and Spotify Technology SA, Third Point said in a public letter to investors.

Sony did not immediately respond to a request for comment.

(Reporting by Svea Herbst-Bayliss in New York; Editing by Sandra Maler)

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