Sony’s US-traded shares sank 2.7 percent after Nikkei reported the company is poised to reject billionaire Daniel Loeb’s proposal for an initial public offering of the entertainment unit. Sony shares retreated to $21.04 in New York, their lowest close in a month. The board of the Tokyo-based electronics maker raised objections to the plan from Loeb’s Third Point hedge fund to sell off part of the businesses that create and distribute films, TV shows and records, Nikkei said.