Monday, September 10, 2007

Loeb's Third Point LLC More Than Doubles Stake in EXCO Resources (XCO)

In a 13G filing on EXCO Resources Inc. (NYSE: XCO), Daniel Loeb's Third Point LLC disclosed an 8.3% stake (9,088,157 shares) in the company. This is up from the 4,300,000 share stake the firm held at the quarter ended June 30, 2007.

A 13G indicates a 'passive investment', but Daniel Loeb is best known as an activist investor.

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