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ValueAct to the rescue?
ValueAct Capital Management LP’s Jeffrey W. Ubben has dropped roughly $2-billion into Microsoft, purportedly on the belief that the software giant’s businesses are undervalued by other investors. So what will it mean for the company? On the one hand, his stake is less than 1 per cent of shares outstanding, so his clout will be limited. On the other, ValueAct’s track record is impressive. It currently holds shares in only 14 different companies and all of them are up in 2013.