Elliott Management Rebuilds Significant Stake In Masayoshi Son's Softbank, Pushes For $15B Share Buyback: Report
Portfolio Pulse from Benzinga Neuro
Elliott Management has re-established a significant stake in SoftBank (OTC:SFTBY) and is advocating for a $15 billion share buyback. The activist fund's position is valued at over $2 billion, and the news has led to a 5.5% surge in SoftBank's shares in Tokyo. Elliott believes the buyback would boost SoftBank’s share price and signal confidence in its strategy.
June 05, 2024 | 8:27 am
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Elliott Management has re-established a significant stake in SoftBank and is advocating for a $15 billion share buyback. This news has led to a 5.5% surge in SoftBank's shares in Tokyo.
Elliott Management's significant stake and push for a $15 billion share buyback are likely to boost investor confidence and positively impact SoftBank's share price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100