(Bloomberg) Hedge funds Lone Pine Capital LLC and Corvex Management, among the biggest shareholders in pipeline operator Williams Cos, each lost about $250 million Monday as the stock slumped along with natural gas producer Chesapeake Energy Corp.
Williams declined 35 percent, the most since 2002, amid concern a planned deal isn’t going through. Lone Pine, run by Stephen Mandel Jr., and Corvex, an activist hedge fund run by Keith Meister, each own about 42 million shares, according to the latest available data compiled by Bloomberg.
Lone Pine, Corvex Each Lose $250 Million in One Day
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