Hedge Fund ‘Appraisal Arbitrage’ Strategy Faces Court Challenge

WSJ – One company is pushing back against hedge fund efforts to squeeze more money from corporate buyouts, a move that threatens to upend an increasingly popular investment strategy.

A trial is under way this week between Ancestry.com Inc., the family-tree website sold in 2012 to private-equity firm Permira, and Merion Capital LP, a hedge fund seeking a bump to the deal price in court.

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