DUK - An Activist Investor Just Revealed a Stake in Dropbox: Here's What Investors Need to Know
On Wednesday, June 2, the Wall Street Journal reported that famous activist hedge fund Elliott Management is now the second-largest shareholder of Dropbox (NASDAQ: DBX) , behind founder and CEO Drew Houston. It is unclear what Elliott's plans are with this stake, but if its other recent Twitter (NYSE: TWTR) and Duke Energy (NYSE: DUK) investments are any indication, the fund is not going to stay in the background. Here's what investors need to know about Elliot's new position, and what it could mean for Dropbox's business going forward.
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According to the report, Elliott is holding discussions with Dropbox management, although it is unclear what these conversations have been about. The report also mentioned the fund owns more than 10% of the stock's outstanding shares.
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An Activist Investor Just Revealed a Stake in Dropbox: Here's What Investors Need to Know