(Business Insider) Eminence Capital, the hedge fund manager led by Ricky Sandler, has made hundreds of millions of dollars this morning on its Keurig Green Mountain long position. On Monday morning, the coffee K-cup maker announced it’s being acquired by JAB Group for $92 per share, a deal valued at $13.9 billion. Keurig’s stock closed Friday at $51.70 per share, putting the acquisition price at a 78% premium.
Sandler’s hedge fund owns 10,658,752 shares, which includes 6,176,952 shares and 4,481,800 shares obtainable upon exercise of options. That adds up to a 7.2% stake, according to a regulatory filing from late November.
