Third Point exits CoStar, abandons planned proxy fight

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Third Point exits CoStar, abandons planned proxy fight

hedgeweek

2 months ago

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Activist hedge fund firm Third Point, led by billionaire investor Daniel Loeb, has withdrawn from its investment in CoStar Group and will not proceed with a planned proxy contest, according to a report by Reuters citing a recent letter and unnamed people familiar with the matter.
The hedge fund had been preparing an activist campaign aimed at reshaping CoStar’s board and refocusing the company on its core commercial real estate data business. However, it concluded that its original investment th...

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