Visteon Corp. (NYSE:VC) is again seeing its stock being accumulated by Pardus Capital. The hedge fund rose its stake in the company to 15.6%, but did not make additional comments about their strategy or plans. See our
previous article for more information about Pardus' interest in the company.
In
past filings, they noted that they would:
"continue to engage in discussions from time to time with management,
the Board of Directors, other shareholders of the Issuer and other
relevant parties concerning, among other things, the business,
operations, board composition, management, strategy and future plans of
the Issuer. In the context of these discussions, the Reporting Persons
have raised with the Issuer the possibility of an individual suggested
by them joining the board, and have been informed that the Issuer has
taken this matter under advisement."
The company continues to struggle after Pardus' last purchase in September after Valeo withdrew its bid for the company. The stock is, however, up over 3% today on the news. This stock is definitely one
worth watching as Pardus has a large stake in the company and continues to accumulate shares.
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