Loeb Legal Team Says Sothebys Shows "Disdain" In Poison Pill Bid – ValueWalk Premium

Loeb Legal Team Says Sothebys Shows "Disdain" In Poison Pill Bid

Activist hedge fund Third Point is suing auction house Sothebys (NYSE:BID) over its adoption of a poison pill provision that would prevent passive investors from purchasing more than 20% of the company.

Third point blocked from holding 20%
Third Point currently owns 9.6% of the firm and is engaged in what is becoming a rather

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