Japan's Mitsui OSK shares soar to record highs as activist investor Elliott builds ‘significant' stake [CNBC]
MITSUI O.S.K. LINES U/ADR (MSLOY)
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Source: CNBC
A Mitsui OSK Lines (MOL) container ship at a shipping terminal in Tokyo on Oct. 31, 2016. Akio Kon - Bloomberg - Getty Images Shares of Japanese shipping firm Mitsui OSK Lines surged more than 11% Wednesday to a record high after activist investor Elliott Investment Management said it had established a “significant” stake in the firm Elliott said it was confident in the Japanese shipping company's long track record and position as one of the world's largest diversified oceangoing vessel owners. “Despite this strong market position and high-quality assets, the market materially undervalues the business,” the investment firm said in its statement, adding that it sees an opportunity to engage constructively with Mitsui's management to ensure its upcoming medium-term plan is sufficiently ambitious, improve market perception and unlock a higher valuation. Mitsui OSK reported slightly higher revenue for in its latest results, but sharply lower profit, reflecting weaker earnings a
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News
- A Look At Mitsui O.S.K. Lines (TSE:9104) Valuation After Its Recent Share Price Momentum [Yahoo! Finance]Yahoo! Finance
- Elliott takes stake in Mitsui OSK as shares jump up to 12% [Yahoo! Finance]Yahoo! Finance
- Japan's Mitsui OSK shares soar to record highs as activist investor Elliott builds 'significant' stake [MSNBC.com]MSNBC.com
- Elliott Management Statement on Mitsui O.S.K. Lines, Ltd. [Yahoo! Finance]Yahoo! Finance
- Shipowners set to steer the next phase of maritime transformation at Asia Pacific Maritime 2026 [Yahoo! Finance]Yahoo! Finance