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ValueAct Capital has acquired a $1 billion stake in Meta Platforms, signaling confidence in the tech giant's future without pushing for major changes.
ValueAct Capital, a prominent hedge fund known for its strategic investments, has acquired a $1 billion stake in Meta Platforms, the parent company of Facebook and Instagram. This significant investment, which has been built over recent weeks, positions Meta as one of ValueAct's largest holdings alongside Salesforce. Despite the substantial stake, ValueAct is not currently advocating for major changes within Meta, according to sources familiar with the matter.
The news of ValueAct's investment was first reported by CNBC and has been confirmed by multiple sources. Meta, valued at approximately $1.5 trillion, saw little movement in its stock price following the announcement. This suggests that the market views the investment as a vote of confidence rather than a precursor to activist intervention.
ValueAct, based in San Francisco, has a history of engaging with companies in a collaborative manner, often working behind the scenes to influence corporate strategy. This approach contrasts with more aggressive activist investors who seek public confrontations to drive change. Previously, ValueAct successfully engaged with Microsoft, securing a board seat in 2013 to help improve the company's performance.
While the specifics of ValueAct's discussions with Meta remain unclear, the hedge fund's CEO, Mason Morfit, has expressed support for Meta's investments in artificial intelligence. However, the broader plans for Meta under ValueAct's influence have not been disclosed.
As the investment community awaits the release of ValueAct's 13F filings, which will detail its U.S. stock positions at the end of the third quarter, the size of the Meta stake is expected to be a focal point. Meta and ValueAct have both declined to comment on the investment, maintaining a low profile as the situation develops.
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