ValueAct Builds $1B Stake in American Express (AXP) - Bloomberg

(Updated - August 7, 2015 1:35 PM EDT)

Hedge fund ValueAct amassed a $1 billion stake in American Express (NYSE: AXP), according to Bloomberg, citing people with knowledge of the matter. The company isn't yet a core activist target but it is viewed as a quality business with growth potential, the report said, and ValueAct has held preliminary talks with the payments network.

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