July 26, 2006
Hedge funds make millions as UK McCarthy & Stone bid war intensifies
Hedge funds seem poised for gains after a bidding battle for U.K. retirement homebuilder McCarthy & Stone PLC intensified recently. If a recommended 1,000-pence-per-share offer from private equity firms Barclays Capital PIA and Permira Advisers goes through, several hedge funds that bought shares in the builder for as little as 872 pence in recent weeks will make millions on their holdings. Easybourse.com reports:
Losses are also possible, though. Some hedge funds have paid as much as 1,045 pence per share in recent days in a bet a buyout of the company will come at a higher price than current proposals.
Read more: Hedge Funds Benefit From UK McCarthy & Stone Bid War
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