soroban

[sawr-uh-bahn]

noun

1. a Japanese abacus of Chinese derivation.

Word History and Origins

Origin of soroban¹

< Japanese < Chinese suànpan, equivalent to suàn count + pán board

Example Sentences

Soroban didn’t immediately respond to the hiring news Wednesday morning, but investors resoundingly endorsed it by sending Union Pacific’s stock soaring more than 8% to $233.48 in premarket trading.

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The Soroban Capital Partners hedge fund that holds a $1.6 billion stake in Union Pacific had been urging the railroad to hire Vena because of his expertise in streamlining operations.

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Soroban, which owns an about $1.6 billion stake in Union Pacific, urged the company on Sunday to consider its former chief operating officer Jim Vena for the role — a choice that was backed by brokerage BMO Capital Markets.

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Lance Fritz, will reportedly step down after the hedge fund Soroban Capital called for his ouster.

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The managing partner of Soroban Capital Partners, Eric Mandelblatt, said in a letter that the Omaha, Nebraska-based railroad has lagged behind its peers during Lance Fritz’ tenure over the past eight years and that a leadership change is overdue.

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