Daniel Loeb’s Third Point suffered a blow in its first major foray into southern Europe after Spanish defence firm Indra abandoned plans to merge with weapons manufacturer EM&E, according to a report by the Financial Times.
Loeb’s hedge fund had taken a stake in Indra in February, backing a deal that aimed to combine Indra’s tech capabilities with EM&E’s heavy weapons manufacturing, allowing Indra to expand production amid rising EU defence spending linked to the Ukraine conflict and US...
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