Bizjournals.com – Citadel Investment Group, a Chicago-based hedge fund, has spent $33 million to buy a 5.7 percent stake in ADC Telecommunications Inc.
The deal makes Citadel the second-largest holder of Eden Prairie-based ADC’s stock and sent the company’s shares up 4 percent Friday.
Lord Abbett & Co. remains ADC’s largest institutional shareholder, with a 9.52 percent stake. Oppenheimer Funds Inc. is the third-largest holder, with a 4.3 percent share of the company’s stock.
