D.E. Shaw takes stake in Lowe's: CNBC

D.E. Shaw takes stake in Lowe's: CNBC

Hedge fund D.E. Shaw & Co has built an active stake in home improvement chain Lowe's Cos Inc , CNBC reported on Friday, citing sources.

FILE PHOTO: An employee stands outside a Lowe's home improvement chain in Austin, Texas
FILE PHOTO: An employee stands outside a Lowe's home improvement chain in Austin, Texas, U.S., February 27, 2017. REUTERS/Mohammad Khursheed/File Photo

REUTERS: Hedge fund D.E. Shaw & Co has built an active stake in home improvement chain Lowe's Cos Inc , CNBC reported on Friday, citing sources.

D.E. Shaw is concerned about Lowe's performance relative its peers and is not pushing for consolidation with another home retailer at this time, according to the report. (http://cnb.cx/2Daaw3y)

Lowe's shares touched a record high of US$102.28 in late-afternoon trading.

(Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)

Source: Reuters

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