{"id":8378,"date":"2008-08-15T00:00:00","date_gmt":"2008-08-15T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"us-hedge-fund-buys-us162m-bhp-stake","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2008\/us-hedge-fund-buys-us162m-bhp-stake.html","title":{"rendered":"US hedge fund buys $US162m BHP stake"},"content":{"rendered":"<p>The Age &#8211; Third Point, the New York-based hedge fund run by Daniel Loeb, bought a stake in BHP Billiton worth $US162 million at the end of June, adding the world&#8217;s largest mining company to its portfolio.<\/p>\n<p> Third Point, known for pushing companies to make changes that increase their stock prices, bought 1.9 million shares in Melbourne-based BHP during the three months ended June 30, according to a filing with the US Securities and Exchange Commission on August 14.<\/p>\n<p> Loeb, 45, who started Third Point in 1995, bought the stake in the quarter after BHP announced a hostile $US134 billion bid for Rio Tinto. Loeb pressured US oil and natural-gas producer Pogo Producing for more than a year to shed assets or sell itself before it agreed to be bought by Plains Exploration &amp; Production for $US3.6 billion in July last year.<a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/business.theage.com.au\/business\/us-hedge-fund-buys-us162m-bhp-stake-20080815-3w2n.html\"><\/a><\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/business.theage.com.au\/business\/us-hedge-fund-buys-us162m-bhp-stake-20080815-3w2n.html\">Read Complete Article<\/a><\/strong><\/p>\n<p><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/business.theage.com.au\/business\/us-hedge-fund-buys-us162m-bhp-stake-20080815-3w2n.html\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Age &#8211; Third Point, the New York-based hedge fund run by Daniel Loeb, bought a stake in BHP Billiton worth $US162 million at the end of June, adding the world&#8217;s largest mining company to its portfolio. Third Point, known [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2164,2165,218,2166,847,129,20,1273,81,34],"class_list":["post-8378","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-calpine-corp","tag-cerberus-capital-management-lp","tag-citigroup","tag-japanese-bank","tag-june-23","tag-losses","tag-new-marketplace","tag-new-york-times-co","tag-newcastle","tag-news-press"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8378"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8378\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}