Chris Hughes, Columnist

Two Hedge Funds Dodge a Russian Poison Pill

Elliott and Knight Vinke have just nabbed a high price for their stakes in Uniper. It's a pity minority investors didn't get the same.

October 8, 2019 at 12:14 PM UTC

By Chris Hughes

Chris Hughes is a Bloomberg Opinion columnist covering deals. Previously, he worked for Reuters Breakingviews, the Financial Times and the Independent newspaper.

Dirty cash.
Photographer: Chris Ratcliffe

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Any takers for a couple of big stakes in an old-style, carbon-emitting power generator?

Germany’s Uniper SE is not a business that fits with the times. Yet hedge funds Elliott Management Corp. and Knight Vinke have just succeeded in squeezing a high price from the one keen buyer of their combined 21% holding, the Finnish utility Fortum Oyj.