{"id":2303,"date":"2004-02-05T00:00:00","date_gmt":"2004-02-05T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-boost-for-british-energy","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2004\/hedge-fund-boost-for-british-energy.html","title":{"rendered":"Hedge fund boost for British Energy"},"content":{"rendered":"<p>SHARES in British Energy soared by a third yesterday after reports a US hedge fund could mount a legal challenge to the nuclear power generator&#8217;s restructuring in an attempt to get a better deal forshareholders.<\/p>\n<p>  The stock climbed by almost 30% to close at 10.25p &#8211; a 2.25p gain &#8211; and has doubled in value since Friday.<\/p>\n<p>  British Energy, which is dependent on a government loan for its survival, said in a statement it did not know why the shares had risen.<\/p>\n<p>  Newspaper reports suggested Appaloosa, a New Jersey-based hedge fund which had taken a 4.6% stake in the business, had retained Bingham McCutchen, a US law firm with restructuring expertise in the  UK, to see if there were ways to challenge the deal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHARES in British Energy soared by a third yesterday after reports a US hedge fund could mount a legal challenge to the nuclear power generator&#8217;s restructuring in an attempt to get a better deal forshareholders. The stock climbed by almost [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2303","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/2303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=2303"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/2303\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=2303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=2303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=2303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}