Hedge Fund News From HedgeCo.Net

It’s Rupert Murdoch vs. Hedge Fund Greed at Sky

(Bloomberg) Just give us more. The auction for Sky Plc has become a spectacle of greed. On Wednesday, Twenty-First Century Fox Inc. made a fresh 14 pounds-a-share offer, valuing the British satellite broadcaster at 25 billion pounds ($33 billion). But the hedge funds had seen it coming, and had sent Sky’s shares above that level by the end of last month. Bidders for Sky look like a modern-day Tantalus, condemned to grasp at fruit permanently out of reach.

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