Harbinger Capital Builds 6.6% Stake in Sunoco
Tuesday, July 29, 2008 : PermalinkSeeking Alpha- In a 13G filing after the close Friday on Sunoco, Inc. (SUN), Philip Falcone’s Harbinger Capital disclosed a 6.6% stake (7,732,600 shares) in the company. The hedge fund did not show a stake in Sunoco at the quarter ended 03/31/08.
A 13G indicates a ‘passive investment’, but Harbinger is a known activist investor. Most recently, Harbinger called on Cleveland-Cliffs (CLF) to cancel its merger with Alpha Natural Resources Inc. (ANR), saying it was not in the best interest of shareholders.
Tags: arch-nemesis, citigroup, coalminer, first-avenue, health-care, img-src, lead-investor, market-share, mistrust, moly-mines, south-korean, stakeholder, westwood, worth-star-telegram
trackback from your site.
