You are here: Home » International » News » Companies
Business Standard

Einhorn's Greenlight adds Toshiba stake

The Greenlight hedge funds dropped 4% in the aggregate during the period

Simone Foxman | Bloomberg 

Greenlight Capital, the hedge fund firm led by David Einhorn, took a new stake in Japanese conglomerate Toshiba Corp. during the second quarter. The firm said in a note to clients dated Friday that it’s wagering Toshiba shares will rise once it exits money-losing contracts tied to its Westinghouse business, which filed for bankruptcy protection in March. Greenlight also said it believes Toshiba can resolve a legal dispute over a sale of its memory business that was meant to shore up its balance sheet. “We believe investors will refocus on the significant margin and valuation ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Sun, July 16 2017. 00:36 IST