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Hedge fund Third Point calls on Britain’s Prudential to break up

Hedge fund Third Point calls on Britain’s Prudential to break up

Hedge fund Third Point called on the British insurer Prudential to split into two companies, and end its 172-year presence in the UK. Third Point has amassed a more than $2 billion stake in Prudential. Third Point’s CEO Dan Loeb wrote to the board of Prudential Monday that he wanted it to spin off its Asian business and its US arm into separate firms.

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