Third Point Increases Baxter Holdings ~ market folly

Friday, August 7, 2015

Third Point Increases Baxter Holdings

Earlier this week, we highlighted how Dan Loeb's hedge fund Third Point disclosed a new activist stake in Baxter (BAX).  Third Point just filed an amended 13D and indicates their position size is now even larger.

They now own 9.6% of the company with over 52.5 million shares.  This is up from the 37.92 million shares they disclosed just a few days ago.

Third Point is seeking two board seats in order to help select a new CEO.

For more on this hedge fund, be sure to check out Third Point's Q2 letter.

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