Deals
Hedge Funds Strike Paydirt on Actelion Deal After Tracking J&J's Jet
- Bet on pharma takeover boosts Och-Ziff, Eton Park, Elliott
- Event-driven investors aim to put 2016 troubles behind them
J&J Acquires Actelion for $$30 Billion
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Burned by failed deals, poor returns and client withdrawals, hedge fund managers needed a home run.
With each passing day last week, as a Johnson & Johnson corporate jet remained mostly parked a short drive from Actelion Ltd. headquarters near Basel, Switzerland, they grew increasingly confident of a big score, according to hedge fund managers betting on the deal who tracked the plane’s movements on the Internet.