Paulson & Co., a U.S. hedge fund firm run by John Paulson, may make a profit of $350 million to $726 million on debt of Lehman Brothers Holdings Inc. (LEHMQ) that it bought at greatly discounted prices during the past two and a half years, the Wall Street Journal reported.
The newspaper said those figures are based on plans being looked at by a federal bankruptcy court in New York and its own analysis of investment disclosures related to the case.
Paulson’s fund bought more than $7 billion worth of Lehman bonds at an average price of 13 cents on the dollar, the Journal said.
Click here for web link
To contact the editor responsible for this story: Alan Purkiss at email@example.com