{"id":265099,"date":"2021-06-02T22:46:18","date_gmt":"2021-06-02T19:46:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/elliott-management-owns-big-dropbox-stake-holds-discussions\/"},"modified":"2021-06-02T22:46:18","modified_gmt":"2021-06-02T19:46:18","slug":"elliott-management-owns-big-dropbox-stake-holds-discussions","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/elliott-management-owns-big-dropbox-stake-holds-discussions\/","title":{"rendered":"#Elliott Management owns big Dropbox stake, holds discussions"},"content":{"rendered":"

“#Elliott Management owns big Dropbox stake, holds discussions<\/strong>”<\/p>\n

\n

Activist investor\u00a0Elliott\u00a0Management\u00a0owns a large stake in Dropbox and has been holding private discussions with the file-sharing service provider for some time, a source familiar with the matter said on Wednesday.<\/p>\n

The hedge fund owns a stake of more than 10 percent, which is valued at more than $800 million, the person said, declining to reveal the exact size of the investment.<\/p>\n

Dropbox, which was co-founded by Drew Houston who is currently the company\u2019s chief executive officer, is valued at roughly $11 billion. The company, which allows users to store documents, videos and photos online, listed its shares in March 2018 at $21 a share.<\/p>\n

A representative for Dropbox did not immedia<\/a>tely respond to a request for comment.<\/p>\n

On Wednesday, Dropbox was trading at $28.11, having jumped as much as 7 percent on news<\/a> that\u00a0Elliott\u00a0has a stake and is holding discussions with\u00a0management.<\/p>\n

The Wall Street Journal first reported the stake.<\/p>\n

\"Confetti
It was celebratory for Dropbox in March 2018 when its CEO Drew Houston and co-founder Arash Ferdowsi (center) rang the opening bell at the Nasdaq in honor of the company\u2019s IPO. News of Paul Singer\u2019s Elliott Management owning a large stake in the company sent shares of the stock soaring Wednesday.<\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n

Elliott\u00a0has previously worked with companies that were being led by founders, including Twitter and SoftBank Group.<\/p>\n

The hedge fund invests roughly $40 billion and currently owns stakes in Duke Energy, where it has urged the company to consider splitting into three companies, and drugmaker GlaxoSmithKline.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Elliott Management owns big Dropbox stake, holds discussions” Activist investor\u00a0Elliott\u00a0Management\u00a0owns a large stake in Dropbox and has been holding private discussions with the file-sharing service provider for some time, a source familiar with the matter said on Wednesday. The hedge fund owns a stake of more than 10 percent, which is valued at more than…<\/p>\n","protected":false},"author":1,"featured_media":265100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/elliott-management-stakes-dropbox2.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[108053,77694,108122,76863],"class_list":["post-265099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-2-21","tag-activist-investors","tag-dropbox","tag-elliott-management"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/265099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=265099"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/265099\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/265100"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=265099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=265099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=265099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}