Anthony Hughes is senior reporter, equities, for IFR where he covers developments in US equity capital markets. He previously worked as a financial reporter and columnist for the Australian Financial Review and, prior to that, as investment editor at the Sydney Morning Herald.
Keith Meister’s activist hedge fund Corvex Management sold more than half its stake in restaurant group Yum Brands in a nearly US$800m unregistered block trade overnight Tuesday, market sources told IFR.
Snap is hoping its raw growth, monetisation potential and the vision of founder Evan Spiegel will overcome a long list of investor concerns as it seeks to price one of the most aggressively positioned high-profile IPOs in recent memory.
Arconic sold a US$893.1m stake in aluminium producer Alcoa via one of the largest unregistered block trades of recent years, capitalising on the latter’s share price surge since last year’s separation of the two companies.