|With his new 5.7 percent stake in Sotheby’s, activist investor and serious art collector, Daniel Loeb has become one of the renowned auction house’s largest shareholders. As reported by the New York Times’ Deal Book, Daniel Loeb’s investment, made through his flagship Third Point Fund, follows the recent investments by Nelson Peltz of Trian Partner’s (3 percent) and Mick McGuire of Marcato Capital’s (6.6 percent). |
Known for his heavy-handed, boardroom antics, Daniel Loeb has given no indication as to his intentions with Sotheby’s. Following the announcement, Sotheby’s shares closed up at $47.21.
|Hedge Fund Lists|