David Tepper sends scathing letter to Whirlpool

David Tepper, the billionaire founder of hedge fund Appaloosa Management, sent a strongly worded letter. JacuzziThe board accuses the device maker of destroying shareholder value and calls for sweeping changes in its strategy and leadership.

Whirlpool’s shares rose nearly 1% following the news.

Whirlpool was the eighth-largest holding in Appaloosa Management’s portfolio at the end of the fourth quarter, valued at $282 million, according to Verity data.

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