(Bloomberg) -- Seth Klarman's hedge fund, Baupost Group, is increasing its stake in Dutch food-delivery company Just Eat Takeaway.com NV just ahead of a crucial strategy update from the firm.
The Boston-based money manager run by the renowned value investor Klarman has increased its holding in the company to 5.1%, crossing a disclosure threshold on Oct. 13, according to a filing. That's an increase from a 3.5% stake that Baupost acquired in August.
Klarman is increasing his stake ahead of Just Eat's Oct. 21 capital markets day, when the company's executives plan to provide a strategic update amid pressure from investors and a languishing share price.
A representative for Just Eat confirmed the stake increase but declined to comment further. A representative for Baupost declined to comment.
Read more: Investors Want to Know How Just Eat Will Deliver for Them
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