Third Point's Dan Loeb Speaks Up On Suzuki
Dan Loeb has spoken up about his activist target, the Japanese car maker, Suzuki. The car maker said today that it plans to buyback the 19.9 percent stake that Volkswagen AG has in the company. This type of re-consolidation was a key thesis for Loeb and his Third Point hedge fund when he got involved earlier this year, with a $1 billion investment. Here's Loeb's Suzuki thesis from last month.
As well, Loeb made comments today that he thinks that Suzuki should cancel the shares it buybacks from Volkswagen - instead of issuing equity. And, of course, Loeb wants Suzuki to pay a price that's around the current stock price.
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