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Sotheby's Adopts 'Poison Pill' After Loeb Raises Stake-Reuters

Friday, 4 Oct 2013 04:55pm EDT 

Reuters reported that auction house Sotheby's said it adopted a "poison pill" two days after activist investor Daniel Loeb's Third Point hedge fund called for a management shake-up and increased its stake in the Company. Loeb's roughly $13 billion fund wants to replace Sotheby's leadership for what it sees as weak financial results and loss of ground to rival Christie's. 

Company Quote

-0.07 -0.16%
19 Dec 2014