John Paulson’s Hedge Fund ups Cadbury Stake
| November 12th, 2009 | ||
| Hedge fund manager Paulson & Co. now owns over two percent of Cadbury plc (CBRY.L) after doubling its stake in the candy company this week. According to Reuters, Paulson purchased 14.8 million shares in the company after Kraft Foods Inc (NYSE: KFT) announced that it would not raise its own $16.2 billion offer for Cadbury. In a move that could incite a virulent and protracted takeover battle, Kraft instead will bring its offer to the Cadbury shareholders. Paulson & Co. is an investment management company founded in 1994 by John Paulson, the firm’s current president and senior fund manager who earned the firm billions of dollars by betting on U.S. housing prices during the financial crisis. Paulson & Co. primarily utilizes merger arbitrage and event-driven strategies. | ||
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Paulson & Co. |
Related People: Andrew Hoine;
Related Entities: Paulson Advantage Master Ltd;
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles
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