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Elliot said to own 'large' stake in Warren Buffett’s favourite Sumitomo

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Elliot said to own 'large' stake in Warren Buffett’s favourite Sumitomo

Elliott Management has acquired a substantial stake in Sumitomo Corporation, one of Warren Buffett's preferred Japanese trading houses. The size of the activist hedge fund's investment is reportedly several tens of billions of yen, equivalent to a 0.2% stake in Sumitomo. Japan is a popular target for activist investors, and Elliott has previously targeted several Japanese companies. However, it is unclear when Elliott acquired its stake in Sumitomo and when discussions with the company took place. Berkshire Hathaway is also a significant shareholder in Sumitomo.

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