Billionaire investors George Soros and John Paulson joined Daniel Loeb in taking stakes in FedEx Corp. last quarter, the operator of the world’s largest cargo airline.
Soros Fund Management LLC bought 1.52 million shares of Memphis-based FedEx, valued at $173 million at the end of the third quarter, according to a regulatory filing Thursday. Paulson & Co. disclosed owning a new stake of 646,800 shares, with a market value of $73.8 million.
Loeb, the activist investor who has pushed for change at companies including Sony Corp., said this week that his Third Point LLC has taken a stake in FedEx, and that he had met Chief Executive Officer Fred Smith. Third Point Thursday disclosed a stake of 2 million shares in FedEx, valued at $228.2 million.
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