Activist investor Elliott Management Corp has become one of the largest shareholders of Japanese conglomerate Dai Nippon Printing Co Ltd, the Financial Times reported on Tuesday.
Elliott has been increasing its investment in DNP for the past few months and now holds a stake little below 5 per cent worth $300 million, making it the conglomerate's third-largest external shareholder, the report said, citing people familiar with the matter. Elliott has invested in several technology-focused companies, including a multi-billion dollar investment in software firm Salesforce on Monday.
DNP, which confirmed Elliott's investment to FT, said no one was immediately available for comment when contacted by Reuters. Elliott did not immediately respond to request for comment.
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