D.E. Shaw builds activist stake in retailer Lowe’s

Bloomberg

Investor D.E. Shaw & Co. has built an active stake in US home retailer Lowe’s Cos., according to people familiar with the matter.
While D.E. Shaw’s specific plans for the investment couldn’t immediately be learned, the firm does plan to use its holding to agitate for changes at Lowe’s, the people said, asking not to be identified as the details aren’t public.
Activist investors typically take stakes in companies and push for changes to strategy, spending, management and board members.
A spokesman for New York-based D.E. Shaw declined to comment. A representative for Lowe’s declined to comment.
Lowe’s, based in Mooresville, North Carolina, has been locked in a battle with larger rival Home Depot as both chains seek to avoid the malaise that has plagued the retail industry.