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ETF News

ValueAct Capital takes 6.8 pct stake in Alliance Data Systems

July 11 (Reuters) - Activist shareholder ValueAct Capital reported a 6.8 percent stake in Alliance Data Systems Corp , which provides credit card and loyalty programs.

The $16 billion hedge fund said Alliance Data System's shares were undervalued and represented an attractive investment opportunity. (bit.ly/29yuVPQ)

Alliance Data Systems shares were up 2.8 percent at $206.65 in premarket trading.

Plano, Texas-based Alliance Data Systems provides data-driven marketing and loyalty programs serving consumer-based businesses. The company had a market value of about $11.84 billion as of Friday. (Reporting by Sruthi Shankar in Bengaluru)

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