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8 Hedge Funds That Made a Bundle on their Temple-Inland Bets $TIN

Yesterday International Paper (IP) made a $3.3 Billion hostile bid for Temple-Inland and today Temple-Inland (TIN) went up 40%. Several hedge funds were betting on paper companies earlier this year after Rock-Tenn (RKT) announced to acquire Smurfit-Stone Container (SSCC). Here are the hedge funds that made a bundle on their Temple-Inland bets today:

International Paper Company (NYSE:IP)

1. Doug Silverman – Senator Investment Group: Made $44 Million

2. Jeffrey Altman – Owl Creek Asset Management: Made $25 Million

3. Ron Gutfleish – Elm Ridge Capital: Made $23 Million

4. David Tepper – Appaloosa Management: Made $11 Million

5. William Michaelcheck – Mariner Investment Group: Made $8 Million

6. Mark Kingdon – Kingdon Capital Management: Made $6.4 Million

7. Chuck Royce – Royce & Associates: Made $6 Million

8. Clint Carlson – Carlson Capital: Made $5.6 Million