Tomorrow, June 20th, Sony shareholders will be meeting to discuss the potential breakup between the entertainment and electronics divisions of the company.
According to Nikkei, Sony head Kaz Hirai would like to keep the two divisions together, disagreeing with the wishes of Third Point LLC boss Daniel Loeb. Just last month, Loeb delivered a letter to Mr. Hirai requesting that the firm sell 15-20% of Sony Entertainment off to shareholders. This would then allow the company to provide further funding to its electronics-based branch.
That said, Hirai has made it clear that the board will “come to a decision that represents Sony’s stance.”
Looks like we'll find out tomorrow how everything will ultimately shake out. What do you think is the best move for Sony? Be sure to tell us and the rest of the GR community by voicing your opinion in the comments below.
[Via]
