RSS FeedHarbinger Capital cuts stake in New York Times Co. to 16.4 pct ...
The hedge fund said in a securities filing this week that it sold 5 million Times shares at $8.25 each. That leaves it with about 23.5 million shares, or a 16.4 percent stake in the company.
Fund spokesman Charles V. Zehren says the media company “is still a core holding, and the sale was done to take advantage of the strength in the market.”
The New York Times Co. publishes The Boston Globe, the International Herald Tribune and 15 other dailies along with its flagship newspaper.
Its shares rose 36 cents, or 4.4 percent, to $8.52 in morning trading.
JBS to take stake in Pilgrim's Pride in $2.8B dealNEW YORK — Chicken producer Pilgrim's Pride Corp. confirmed Tuesday that Brazilian beef producer JBS SA will buy a majority stake in the company in a deal that values the company at $2.8 billion. Boston Globe workers told by Times Co. that newspaper's finances improving, sale not certainQatar acquire 17% Porsche stakeDOHA, Qatar — Qatar Holding has announced it will acquire a 17 percent stake in Volkswagen AG, which is merging with Porsche, in a deal that will exceed $10 billion. This comes after the Porsche and Piech families said it will sell a 10 percent stake of their shares to the Gulf company.
L&T to wait for opportune time to sell Satyam stakeNEW DELHI - Engineering and construction major Larsen and Toubro Wednesday said it would wait for an opportune time to sell its holding in Satyam Mahindra, formerly Satyam Computer Services, even if the markets regulator waives the lock-in period on the shares. The lock-in period had been fixed because of a competitive bidding process for a controlling stake in the scam-hit IT major.
News Corp boosts stake in German pay TV company Sky Deutschland to nearly 40 percentMUMBAI - Wind turbine maker Suzlon Energy has raised its stake in Germany-based REpower Systems AG to 90.72 percent by acquiring Martifer Group's 14.4 percent stake in the company, it was announced here Saturday. Suzlon acquired Portugal-based Martifer's stake with a final payment of 87.6 million euros ($122.3 million), the company said in a statement.
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