Elliott Management Corp., the U.S. hedge fund run by Paul Singer, said it won’t sell its shares in German drug distributor Celesio AG to McKesson Corp. because the 3.9 billion-euro ($5.36 billion) offer undervalues the company.
Billionaire Paul Singer almost doubled his stake in Celesio AG in the past week in a sign he may try to extract a higher price for his holding as McKesson Corp. seeks to acquire the German drug distributor.
Last year, John Malone bought Humewood Castle, a neo-Gothic jumble of towers, gables, and turrets at the foot of Ireland’s Wicklow mountains. The landscape of forest and heath could hardly be more different from Colorado’s high plains, where the cable cowboy owns thousands of acres -- but it reflects a broader strategic shift for Malone.
Kabel Deutschland Holding AG said that its sale to Vodafone Group Plc will trigger loss of tax deferrals and financing charges that will cut net income by about 205 million euros ($277 million) this fiscal year.