Dan Loeb's hedge fund firm Third Point has filed a 13D
with the SEC regarding Baxter (BAX). Per the filing, Third Point now
owns 7% of the company with over 37.9 million shares.
This
is a new position for the hedge fund and the filing was made due to
activity on August 4th. The filing also details their trading activity
and Loeb's firm was out buying BAX in mid-to-late June and throughout
July. They really ramped up buying in the first few days of August
around $40.49.
Third Point is seeking to gain two board seats in order to help in selecting a new CEO and sent a letter to Baxter. You can view the letter here
For more from Loeb's firm, head to Third Point's Q2 letter.
Wednesday, August 5, 2015
Third Point Goes Activist on Baxter
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