Elliott Pushes $15B Buyback After Rebuilding SoftBank Stake
Elliott Management, a US activist investor, has acquired a significant stake in SoftBank Group Corp. and is advocating for a $15 billion share buyback, as reported by the Financial Times. Following Elliott's announcement, SoftBank's shares increased by approximately 5% in Tokyo. Elliott Management, which has invested over $2 billion in SoftBank, has been in discussions with the company's executives, suggesting that such a repurchase would demonstrate founder Masayoshi Son's confidence in the firm and potentially boost its stock value.
In recent years, SoftBank, once a dominant player in tech investments, has reduced its startup investments but is now looking to intensify its focus on artificial intelligence and other sectors. This shift comes after a significant rise in the value of some of its key assets, including Arm Holdings Plc. Elliott Management's push for a buyback reflects its strategy to enhance shareholder value and leverage SoftBank's recent asset appreciation.
