Harbinger Capital Builds 6.6% Stake in Sunoco (SUN)
A 13G indicates a 'passive investment', but Harbinger is a known activist investor. Most recently, Harbinger called on Cleveland-Cliffs (NYSE: CLF) to cancel their merger with Alpha Natural Resources Inc. (NYSE: ANR), saying it was not in the best interest of shareholders.
Sunoco, Inc., through its subsidiaries, manufactures and markets various petroleum products, including fuels, lubricants, and petrochemicals in the United States.
Harbinger Capital Partners, a subsidiary of Harbert Management, is a $9 billion hedge fund run by Philip Falcone.