WSJ – A hedge-fund investing strategy aimed at squeezing more money from corporate takeovers has its biggest test yet: PetSmart Inc.
The specialty retailer’s recent $8.25 billion buyout has drawn big bets from several well-known hedge funds, which bought shares on the brink of the deal’s closing in March and are laying the groundwork for a court battle over the $83-a-share buyout price, according to filings and people familiar with the matter.
