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Third Point pressures Shell to restructure after upping stake in the oil giant
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Activist hedge fund Third Point told clients it has increased its stake in Shell and is still pushing the oil giant to restructure, six months after calling for a breakup of the company.
Daniel Loeb’s New York-based hedge fund took a $750m stake in Shell last year as of the third quarter, and called on it to separate into multiple companies — one focused on legacy businesses such as fossil-fuel refining and another on renewables and liquefied natural gas.
Third...
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