
John Paulson’s hedge fund group, the Paulson Funds, had another strong, if not spectacular quarter, according to an investment letter obtained by CNBC.
There’s been lots of attention paid to Vivendi’s board meeting today as a sign of whether it will sell its 20% stake in NBC Universal and thereby clear the way for the deal I have been reporting on that is close between GE and Comcast. But whether Vivendi decides it wants out of its partnership with GE is not the point.
A report from that Group Danone had hired an investment bank to work on a possible bid for baby food company Mead Johnson had those shares up over 10% briefly. After speaking with bankers close to both companies it appears investors looking for a deal anytime soon will be disappointed.
One of these days it’s plausible to believe that the ailing wireless giant Sprint will be put out of its misery with the receipt of a viable takeover offer. But don’t count on that being anytime soon.
Atticus Capital founder Timothy Barakett, 44 years of age, is shuttering his flagship fund and returning $3 billion in capital to his investors. The roughly $1 billion left, Barakett’s personal fortune, will be managed by him in a so-called “family office”. Atticus will keep its European fund (not managed by Barakett), with roughly $1.5 billion under management, open.
AIG’s share price has now advanced more than 100% during the week. While it was a short squeeze that contributed the bulk of that move, today’s upward tide is due to a belief that AIG has found some stability in its business.
