Activist hedge fund Elliott Investment Management is set to invest a further $1bn in Pinterest, strengthening its position as the company’s largest shareholder and endorsing a newly announced $3.5bn share repurchase programme, according to a report by Reuters.
The fresh equity injection will support the buyback, which represents close to a third of Pinterest’s market capitalisation and is expected to materially reduce the number of shares outstanding. Shares in the image-sharing platform rose ne...
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