Hedge fund Third Point calls on Sony to spin off semiconductor unit

Sony Center, Berlin. Photo: Sony Center website

Daniel Loeb’s activist hedge fund Third Point LLC called on Sony Corp on Thursday to spin off its semiconductor business and sell off stakes in Sony Financial and other units, in order to position itself as a leading global entertainment company.

This marks the second time in six years that Loeb, one of the world’s highest-profile activist investors, has targeted the Japanese electronics maker – although last time he pushed for a radically different shake-up, pressing for a spin-off of entertainment assets.

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