(Reuters) – Activist hedge fund ValueAct Capital Management LP has taken a stake in credit card issuer American Express Co (AXP.N), which is struggling with the loss of several co-branded tie-ups amid intense competition.
Related Stories. The company’s shares jumped as much as 7 percent to $80.14 in regular trading, after Bloomberg reported that ValueAct had built a $1 billion (645 million pound) stake and was seeking “shareholder-friendly” changes.
Activist Hedge Fund ValueAct Takes Stake in AMEX
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