DBX - Activist Hedge Fund Takes Huge Stake in Dropbox
Elliott Management has acquired a significant stake in Dropbox (NASDAQ: DBX) , according to a report in The Wall Street Journal citing "people familiar with the matter." The activist hedge fund told Dropbox executives that it's the company's largest shareholder, excluding CEO Drew Houston. That suggests Elliott Management has acquired a position of more than 10% in the file-sharing service provider.
The hedge fund has been having private discussions with Dropbox executives since earlier this year, according to the report, though it isn't clear exactly what changes Elliott Management is suggesting.
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Activist Hedge Fund Takes Huge Stake in Dropbox