FT – When a hedge fund manager makes a paper profit of $1bn in a single day, it attracts attention. Bill Ackman’s 9.7 per cent stake in Allergan, the maker of Botox injections, rose by that much last month when he revealed he was working with Valeant Pharmaceuticals on a hostile bid for the company. It was a trade that attracted wide comment from lawyers and rivals for its unusual structure and its audacity, but for investors it was simply the fact of such a large profit that caught the eye.
‘Event-driven’ hedge funds leap into lead after rush to invest
This entry was posted in Syndicated. Bookmark the permalink.
