Hayman Joins Jana, Eton Buying GM as U.S. Treasury Exited
This article is for subscribers only.
Hayman Capital Management LP joined Eton Park Capital Management LP, Moore Capital Management LLC and Omega Advisors Inc. among hedge funds that bought shares in General Motors Co. last year as the U.S. shed its final stake.
J. Kyle Bass, who founded Hayman Capital, said last year that GM should increase in value by more than 40 percent in 12 to 18 months, basing his projections for the stock gain on the automaker issuing a dividend equal to half of its 2014 free cash flow, which he estimates as $4.1 billion. That’s more than what some analysts predict the automaker will spend.