US hedge fund ups Rubicon stake

Scoop – Knott, a U.S. based series of associated funds managed and administered by Dorset Management Corp., has made a partial takeover bid for the wood products and biotechnology investor Rubicon.

The offer of 70 N.Z. cents per share for a total of 8.83% would take Knott’s holding in Rubicon to 27.33%, and with Knott associates included, to 28.31% of the company.

Rubicon owns forestry biotechnology company ArborGen LLC and wood processor Tenon Ltd.

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