Barbarians at the SoftBank gate.
A hedge fund that likes to bully CEOs, sue governments and seize their navy ships just bought into SoftBank. What does it mean for Masayoshi Son?
Son’s mounting problems which began with WeWork’s IPO debacle last year may have just got to another stage, yet SoftBank’s stock price reacted very positively to the news that one of the most feared activist funds built a 3% stake in the company. Good news for SoftBank and bad news for Son?
Barbarians.
The term “Barbarians” may have earned its meaning in the world of finance in the famous book Barbarians at the Gate describing the pursuit of an undervalued conglomerate by ruthless ego-driven investment managers, but it would fit Elliott Management just as well.
There is no question that Elliott led by billionaire investor Paul Singer is tough; it likes to cherish that image too. Elliott is perhaps best know for its fight with Argentina when it refused to accept a loss on its holdings of the Argentine bonds as the country desperately tried to restructure (write down) its debt.
