Rise and shine, everyone, another busy day is on the way. We can tell because one short person had to hustle for the ride to the local schoolhouse while the other short one also had to scoot so as not to be late for gainful employment. As for us, we are foraging for interesting items and reaching out to interesting people. So, time to get cracking, yes? This can only mean the time has come to pick up a cup of stimulation and dig in. On that note, here are some tidbits. Hope you have a smashing day and, of course, do keep in touch …
The Third Point hedge fund, piloted by Daniel Loeb, owns a small stake in Celgene (CELG), betting that the proposed $74 billion sale of the company to Bristol-Myers Squibb (BMY) will be completed, according to Reuters. The previously undisclosed position illustrates how some prominent hedge funds are placing opposing bets on what would be the biggest-ever pharmaceutical acquisition. Starboard Value, which holds a small stake in Bristol-Myers, is urging shareholders to vote down the Celgene deal. Third Point fund has no plans to publicly agitate, Reuters says.
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