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Hedge Funds Made a Bundle on Complete Production

Complete Production Services, Inc. (CPX) closed at $20.38 on Friday, October 7, but that was before news that Superior Energy Services, Inc. (SPN) announced that it would buy Complete Production Services in a cash and stock deal worth over $2.6 billion. Superior moved to acquire Complete in a bid to improve it North American operations, particularly as relates to pressure pumping services (read about the Complete Production deal here). By the end of the day Monday, the share price closed at $28.42, making these 7 hedge fund managers, amongst others, a bundle:

1. Citadel Investment Group – Ken Griffin: Gained $7.8 million
2. Millennium Management – Israel Englander: Gained $5.4 million
3. Clough Capital Partners – Charles Clough: Gained $3.6 million
5. Plural Investments – Matthew Grossman: $2.8 million
6. Renaissance Technologies – Jim Simons: $2.4 million
7. Caxton Associates Lp – Bruce Kovner: $1.1 million

These calculations assume that these hedge funds did not increase or reduce their stock positions in CPX since the end of June. We did not take into account their option positions.