Harbinger Capital Builds 6.6% Stake in Sunoco
Seeking Alpha- In a 13G filing after the close Friday on Sunoco, Inc. (SUN), Philip Falcone’s Harbinger Capital disclosed a 6.6% stake (7,732,600 shares) in the company. The hedge fund did not show a...
View ArticleHedge fund may increase stake in Alcoa
Pittsburgh Tribune-Review- Activist shareholder Highfields Capital Management LP has alerted Alcoa Inc. it may increase its stake in the aluminum maker to as much as 8 percent, a move that would make...
View ArticleWall Street Banks Join Hedge Funds in Boosting Treasury Holdings
Wall Street’s biggest bond dealers are joining hedge funds in loading up on Treasuries as the outlook for inflation tumbles. JPMorgan Chase & Co., Citigroup Inc. and the 20 other companies that...
View ArticleSwedish investor Cevian Capital buys shares in Daimler
Forbes – Swedish investor Cevian Capital is acquiring shares in Daimler AG in an apparent effort to become a significant shareholder in the German carmaker, Sueddeutsche Zeitung said, citing an unnamed...
View ArticleBarratt shares soar on hedge fund interest
Financial Times – Shares in Barratt Developments led the housebuilding sector higher on Monday morning as it revealed a US fund manager had increased its stake in the heavily-indebted company to more...
View ArticleUS hedge fund buys $US162m BHP stake
The Age – Third Point, the New York-based hedge fund run by Daniel Loeb, bought a stake in BHP Billiton worth $US162 million at the end of June, adding the world’s largest mining company to its...
View ArticleOspraie hedge fund loses $1bn on misplaced commodities bets
Ospraie Management, the US hedge fund led by Dwight Anderson, has seen about $1bn (€678m) in value being wiped out of Ospraie Fund, its biggest, over the last 12 months amid misplaced bets on...
View ArticleSoros boosts Lehman stake
Reuters – Billionaire investor George Soros hiked his stake in Wall Street firm Lehman Brothers to 9.5 million shares as of June 30 from 10,000 shares, according to a U.S. regulatory filing on...
View ArticleLehman May Put a Prized Unit on the Block
The Ledger – Lehman Brothers, the troubled investment bank, is considering the sale of all or part of its prized money management division to private equity firms to raise billions of dollars of...
View ArticleCerberus offloads MFI stake to restructuring specialist
Daily Telegraph – Cerberus, the American hedge fund, has sold its stake in Merchant Equity Partners, the owner of the MFI furniture chain, to Hilco and Goldman Sachs. The secretive investment firm was...
View ArticleTop Woolworths investor says no to GBP50m takeover offer
Times Online – Woolworths’ biggest shareholder has thrown his weight behind management in rejecting Malcolm Walker’s £50m takeover approach, while refusing to deny that he is planning his own bid for...
View ArticleFinal Chicago Cubs bids likely in weeks
Reuters – Final bids for the Chicago Cubs will likely be due late September or early October, two sources said on Thursday, as owner Tribune Co seeks to sell the storied baseball team by the year end....
View ArticleHedge funds force Orient Express to hold meeting
Business Standard – Tatas’ voting powers in Bermuda-based hotel firm to rise if shareholders approve reclassification of shares. The Tata group-controlled Indian Hotels Company’s voting power in Orient...
View ArticleHedge Fund Rebukes Republic Services
Wall Street Journal – Hedge fund Elliott Associates LP made public a letter to Republic Services Inc. in which it said the company’s board wasn’t doing its duty by fully considering the raised $6.73...
View ArticleHedge funds suffer further pain
Reuters UK – The bankruptcy filing of Lehman Brothers is another blow for the hedge fund industry, but at least the damage is limited from here for funds exposed the U.S. investment bank. Even...
View ArticleA Hedge Fund Like No Other
Washington Post – Given the panic in Washington over the financial markets, it is virtually certain that Congress will soon pass some form of the bailout plan the Treasury put forward last week. This...
View ArticleTwo equity firms buy Lehman’s money management unit
International Herald Tribune – Lehman Brothers said Monday that it would sell for $2.15 billion much of its money management business, including its prized Neuberger Berman asset management unit, to...
View ArticleTaylor Wimpey slips as hedge fund sells shares
Guardian.co.uk – Housebuilder Taylor Wimpey has slipped more than 8% on news that Toscafund, the hedge fund run by former bank analyst Martin Hughes, has sold a chunk of shares in the business. Tosca,...
View ArticlePorsche runs down hedge funds
Globe and Mail – Since many hedge fund managers like to drive Porsche roadsters, it’s somehow appropriate that the German auto maker just ran them down. The European hedge fund community took a...
View ArticleHedge funds fear bankruptcy after Porsche squeeze
Times Online – Hedge funds were heading for a full-blown row with the German Government last night as it emerged that funds sitting on tens of billions of euro losses after short-selling Volkswagen...
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