ValueAct Capital Management LLC, the fund run by Jeffrey Ubben, acquired new stakes in Symantec Corp. (SYMC:US) and Expeditors International of Washington Inc.
ValueAct bought about 7.6 million shares of Symantec, giving it about a 1.1 percent stake in the biggest maker of antivirus tools, according to a filing today with the U.S. Securities and Exchange Commission. It also bought 2.19 million shares in Expeditors, a Seattle-based logistics company.
Symantec rose 2.7 percent to $22 as of 4:58 p.m. in New York, after closing regular trading at $21.41. Expeditors International rose slightly to $44.66.
San Francisco-based ValueAct, which manages about $14 billion, often mounts activist campaigns for changes at companies it invests in. The firm has helped change the direction of companies including Microsoft Corp. and Valeant Pharmaceuticals International Inc.
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