Third Point Builds Indra Stake, Urges Board to Pursue M&A

Third Point LLC has taken a stake in Spanish technology and defense company Indra Sistemas SA and is throwing its support behind Chairman Ángel Escribano’s plan to buy a smaller rival.

The activist investor has built a significant interest in Indra, according to a letter sent to the company’s board that has been reviewed by Bloomberg News. It did not reveal the size of the holding.