Third Point discloses ~10% stake in BAX—seeks BoD representation: http://www.bloomberg.com/news/articles/2015-08-05/third-point-exits-1-billion-alibaba-stake-adds-mckesson Loeb, whose firm has almost a 10 percent stake including amassed options it’s converting into stock, applauded the company’s recent spinoff of its Baxalta Inc. pharmaceutical business, and for announcing a succession plan for current CEO Robert Parkinson. Third Point, which oversees about $18 billion, said it has more than $2 billion in economic exposure to Baxter. …Loeb described Baxter’s staggered board as “shareholder unfriendly and archaic,” where only a few directors are up for re-election each year, and its “odd voting structure that values shareholders individually rather than according to economic interest.”