August 07, 2013

Sony rejects Daniel Loeb offer, Sony shares fall 4.6 percent

" Sony has rebuffed activist investor Daniel Loeb's proposal to spin off part of its entertainment group after its board unamiously voted against the plan.....Sony shareholders would benefit from "owning all, rather than a part of" it's entertainment assets...Shares in Sony were down 4.6 per cent in Tokyo on Tuesday morning"

Source: Sony rejects entertainment spin-off proposal
By Matthew Garrahan
Financial Times
Australian Financial Review
Wednesday 7th August 2013, page 18

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