Published 18 days ago

Elliott Management Secures Stake In Warren Buffett-Backed Sumitomo Corp

Summary by Benzinga

Elliott Management Corp. has acquired a significant stake in Sumitomo Corp., a Japanese trading company favored by Warren Buffett. What Happened: The activist investment group’s stake is reportedly worth “several tens of billions of yen,” translating to a 0.2% stake in Sumitomo for every ¥10 billion ($64 million) based on Friday’s closing share price. The specifics of the stake acquisition and discussions with Sumitomo remain undisclosed, Bloomb…

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Benzinga

Elliott Management Secures Stake In Warren Buffett-Backed Sumitomo Corp

17 days ago·New York, United States

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Bloomberg

Elliott Built 'Large' Stake In Buffett-Favored Sumitomo, Source Says

(Bloomberg) -- Elliott Management Corp. has built a “large” stake in Sumitomo Corp., one of Warren Buffett’s favorite Japanese trading houses, according to a person familiar with the matter. The size of the activist group’s investment is around “several tens of billions of yen,” the person said, asking not to be identified because the transaction hasn’t been publicly disclosed. Every ¥10 billion ($64 million) investment is equivalent to a 0.2% s…

18 days ago·United States

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Nikkei

Activist fund Elliott buys stake in Warren Buffett-backed Sumitomo

NEW YORK/LONDON -- U.S. hedge fund Elliott Management has acquired a stake in Japanese trading house Sumitomo Corp. worth tens of billions of yen (10

17 days ago·Japan

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読売新聞オンライン

Elliott Acquires Large Stake in Trader Sumitomo

New York (Jiji Press)—Elliott Management Corp. of the United States, known as an activist investor, has invested several tens of billions of yen to build a large stake in Japanese trading house Sumitomo Corp., Bloomberg reported Sunday.

18 days ago·Japan

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