Hartford Financial Bailout Warrants Double Since Auction
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Hartford Financial Services Group Inc. warrants climbed to twice the price they sold for in a U.S. Treasury Department auction three years ago, benefiting investors such as Bruce Berkowitz and John Paulson.
The warrants, which expire in June 2019, advanced 1.6 percent to $27.40 at 12:17 p.m. in New York, compared with the $13.70 price in a September 2010 auction. Each contract allows an investor to buy 1.03 shares for $9.53. The company is trading at $36.03 after changing hands for less than $4 in 2009.