Elliott Management, an activist hedge fund led by Paul Singer, has reportedly acquired a significant stake in Sumitomo Corp., a Japanese trading company favored by Warren Buffett. The stake is valued at several tens of billions of yen. This move is part of a broader trend of Elliott's increasing involvement in Japanese markets, reflecting a growing influence of activist investors in the region. Following the news, Sumitomo's shares experienced their largest surge since August 2020.
Activist investor Elliott buys stake in Japan's Sumitomo, source says https://t.co/kLy9CSEemY https://t.co/wfV0sxVQlC
Elliott Management buying up a sizable stake in Sumitomo is the latest in a string of Japanese deals for the firm, and reflects the growing influence of activist investors in the country. https://t.co/skWkA3orDU
⚠️ ACTIVIST INVESTOR ELLIOTT BUYS STAKE IN JAPAN'S SUMITOMO, SOURCE SAYS Full Story → https://t.co/k0wDHI7mhu https://t.co/Z3DKTgUpHu
Sumitomo shares surged by the most since August 2020 after activist investor Elliott Management was said to have built a “large” stake in the Japanese trading house https://t.co/LAw1MLacZM
Paul Singer’s activist hedge fund Elliott Management follows Warren Buffett to Japan with a big stake in trading house Sumitomo. https://t.co/zZgr1h29QH
Elliott Acquires Large Stake in Trader Sumitomo https://t.co/GACx6w6sGC
Activist fund Elliott buys stake in Warren Buffett-backed Sumitomo https://t.co/PD8mU75QR9
Elliott Management buying up a sizable stake in Sumitomo is the latest in a string of Japanese deals for the firm, and reflects the growing influence of activist investors in the East Asian country https://t.co/RcFd7a1oXl
Elliott Said to Have Large Stake in Buffett-Favored Sumitomo https://t.co/YaAkolCkiM
Elliott has built ‘large’ stake in Sumitomo, Bloomberg reports https://t.co/07HqXINgUV https://t.co/waHIfXACPo
Elliott Management is said to have built a stake worth “several tens of billions of yen” in Sumitomo Corp., one of Warren Buffett’s favorite Japanese trading houses. https://t.co/QEtybgqmGG
A group of 17 trading, power and gas companies, as well as George Soros's Soros Capital Management, will invest $32 million in a Japanese startup operating an online electricity exchange. https://t.co/ZlpMaloY35