(Reuters) – Hedge fund D.E. Shaw & Co has built an active stake in home improvement chain Lowe’s Cos Inc (LOW.N), 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. (cnb.cx/2Daaw3y)
Lowe’s shares touched a record high of $102.28 in late-afternoon trading.
Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta
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