Saturday February 22, 2020

Newsmaker: Daniel Loeb

The man with an Elan plan: will Loeb show his hand?

27th July, 2013
Daniel Loeb: history suggests he didn't arrive at the Elan sales process by accident Photo: Bloomberg

There's little doubt billionaire investor Daniel Loeb got a kick out of the market's uncertain reaction to his sudden exit from Yahoo last week.

The 51-year-old founder of New York-based hedge fund Third Point is a self-made activist investor with an outspoken abhorrence of corporate malfeasance and an impressive track record built on chutzpah and savvy.

Just why Loeb has spent nearly $200 million acquiring a 2.44 per cent interest in Irish drug company Elan...

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