Hedge Fund News From HedgeCo.Net

Third Point holds Celgene stock, in bet Bristol-Myers deal will close:

(Reuters) – Daniel Loeb’s hedge fund Third Point LLC owns a small stake in Celgene Corp, betting that the proposed $74 billion sale of the biotechnology company to Bristol-Myers Squibb Co will be completed, a person familiar with the matter said on Monday. Third Point’s previously undisclosed position illustrates how some prominent hedge funds are placing opposing bets on what would be the biggest-ever pharmaceutical acquisition.

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