TPG-Axon Follows Jana With Redbox Parent Buy-In

Law360, New York (October 8, 2013, 1:23 PM EDT) -- TPG-Axon Capital Management LP on Tuesday joined fellow activist hedge fund Jana Partners LLC in taking a sizable minority stake in Outerwall Inc., the operator of Redbox movie-rental kiosks, suggesting a shake-up could be brewing at the company after a disappointing run this year.

New York-based TPG-Axon unveiled a 5.1 percent holding, worth more than $85 million, but did not say whether it planned to leverage its stake to force strategic changes. Jana took a decidedly firmer approach when it disclosed a 13.5 percent stake on...
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