Reuters first to report hedge fund Third Point calls on Prudential to break up

Reuters broke the news that hedge fund Third Point LLC has amassed more than a $2 billion stake in Prudential Plc and plans to push Britain’s biggest insurer to split into two companies. Third Point, which is run by Daniel Loeb, will ask the 332-year old London-based company to separate its Asia business from its U.S. business, only a few months after it spun out its British insurance and asset management businesses into a new company called M&G Plc, Reuters sources said.