Sony Breakup Would Be Better Late Than Never: Real M&A
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One year and about $2 billion in lost market value later, it may be time for Sony Corp. to take Daniel Loeb’s advice about breaking up.
Even after making restructuring attempts such as the sale of its personal computer division, Sony remained 12 percent lower as of last week than when activist investor Loeb first urged a separation of the entertainment business last May so that the company could focus on its struggling electronics business. Last week, Sony forecast an annual loss, its sixth in seven years, mostly because of swelling restructuring charges. The shares subsequently plunged 8.8 percent as of May 16.