Strategy in TECH...
In a filing with the Securities and Exchange Commission on Thursday, KKR Stream Holdings LLC reported that it sold nearly 14 million shares of Sonos, Inc. stock (SONO:NASDAQ). The sale took place on Wednesday (June 17, 2020) and, according to their disclosure filed with the SEC, this sale takes them completely out of Sonos ownership, with zero shares remaining in its portfolio.
Melrose Industries plc, the British turnaround specialist who acquires underperforming companies to improve their operations and management for resale, is now actively considering selling off the bulk of Nortek in a deal that could be worth $3 billion, according to reports from Bloomberg News and the Financial Times. If they actually execute this sale, it will be a relatively early exit from their ownership of Nortek which they purchased in 2016 for $2.8 billion.
