Warren Buffett used to do the same for decades, in fact this is how he came to control Berkshire Hathaway which he calls his worst investment, as it wasn't rational and merely driven by ego.

He wanted to take a controlling share of the company and then sell it for pieces so he started to buy increasing stakes in it.

When Berkshire management understood Buffett's plan they decided to stop him to not let him cannibalize and kill the company, and they offered to buy back his shares for 11$ a share which he accepted as it would've been a 2x return on his investment in a very short time span.

But then they made the critical mistake of low balling him by 1$ per share when it came to sign the documents, and he got so much emotional that he went and bought the entire company to prove a point and fire the management.

It was not a good idea and he would not make money on that acquisition, so after selling off the assets he decided to make it the holding for its other investments.