Activist investor Elliott takes stake in Japan's Dai Nippon Printing - source (updated)

Dai Nippon Printing Co

24/01/2023 08:17

(Changes sourcing, adds Elliott declined to comment)
       Jan 24 (Reuters) - Activist investor Elliott Management
Corp has built a stake in Japanese conglomerate Dai Nippon
Printing Co Ltd  7912.T , a source familiar with the matter told
Reuters on Tuesday.
    The Financial Times (FT) newspaper, which first reported the
news, said Elliott now holds a stake little below 5% worth $300
million, making it the conglomerate's third-largest external
shareholder.
    Elliott declined to comment. DNP, which confirmed Elliott's
investment to FT, said no one was immediately available for
comment when contacted by Reuters. 
    Elliott has invested in several technology-focused
companies, including a multi-billion dollar investment in
software firm Salesforce on Monday. 
        It also recently won a board seat at Pinterest Inc
 PINS.N  when the company added Elliott portfolio manager Marc
Steinberg as a director.
  
 (Reporting by Jyoti Narayan and Akriti Sharma in Bengaluru;
Editing by Dhanya Ann Thoppil and Eileen Soreng)
 ((Jyoti.Narayan@thomsonreuters.com;))