Hedge Fund and Insider Trading News: Bill Ackman, Melvin Capital, Melqart Asset Management, Simon Property Group Inc (SPG), Oracle Corp (ORCL), and More

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Melqart Joins Investors Rejecting Agricole Bid on Creval (Bloomberg)
Credito Valtellinese SpA shareholders with at least 20% of the bank are rejecting a takeover bid from Credit Agricole SA, throwing doubt on the lender’s claims that it can win over investors without increasing its offer. London-based hedge fund Melqart Asset Management — which owns 4.8% of the bank — is the latest to say it doesn’t plan to tender its shares when Credit Agricole’s bid opens next week, according to founder and Chief Investment Officer Michel Massoud. Alta Global, Hosking Partners and Petrus Advisers, which own about another 15% of the Italian lender, are also against the bid.

Let’s Make a Deal Already With Pershing Square Tontine (InvestorPlace)
Since hedge fund investor Bill Ackman launched his Pershing Square Tontine Holdings (NASDAQ:PSTH), speculation has run rampant about what he might buy and how it will affect PSTH stock. PSTH is a special purpose acquisition company (SPAC). That is, it’s a blank-check company, an empty suit, a pile of cash waiting to pounce on a private company and take it public.

The Hedge Fund that Lost More than 50% on GameStop’s Stock Surge is Facing 9 Lawsuits from Retail Investors Alleging Conspiracy to Restrict Trading (Business Insider)
Melvin Capital, the hedge fund at the heart of the GameStop frenzy that lost more than 50% in January, is facing nine lawsuits from retail investors who alleged a conspiracy to limit trading caused them to lose money. Founded by star portfolio manager Gabe Plotkin, Melvin Capital revealed the lawsuits during its annual ADV filing with the US Securities and Exchange Commission, as first reported by Institutional Investor.

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Hedge Fund Tries to Crash a $4 Billion Casino Game (Bloomberg)
When a hedge fund arbitrageur wants to force a bidder to pay more for a takeover, the standard tactic is to rally opposition before shareholders have their say on the deal. Fearful of losing its prey, the aspiring buyer might chuck in a sweetener to secure enough support. Once shareholders have approved a transaction, the opportunity to resist the bid is usually past. That isn’t stopping a U.S. investment firm from having a go.

Founder of the World’s Largest Hedge Fund Ray Dalio: The People ‘I Respect Most’ Do This Well (CNBC)
Billionaire Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, is impressed by one key skill: failing “well.” “The people I respect most are those who fail well,” Dalio tweeted on Friday. “I respect them even more than those who succeed.






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