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Why GM shares are getting run over after earnings

Reuters

Third Point builds $750 million stake in Shell, urges breakup

(Reuters) -Activist investor Daniel Loeb’s Third Point has built a near $750 million stake in Royal Dutch Shell, a source close to the matter told Reuters on Wednesday, and is arguing for a breakup of the oil major. In a letter to its own investors, seen by Reuters, Third Point said Shell had “too many competing stakeholders pushing it in too many different directions, resulting in an incoherent, conflicting set of strategies.” Third Point said the creation of multiple standalone companies would make it easier for Shell to return cash to shareholders from “legacy” businesses such as upstream oil and gas, oil refining and chemicals.

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