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Hedge Funds Make Big on Tekelec $TKLC

Tekelec (TKLC) shares rose 14.04% in trading on Monday. According to Reuters, the increase came on the realization that “the Siris Capital-led private equity takeover of network technology provider Tekelec could attract other suitors, as the $780 million deal potentially undervalues the company’s new router product line.” TKLC share prices rose from $9.90 at close on Friday to finish Monday at $11.29 a share.

Chuck Royce

The following hedge funds made the most:

1. Kensico Capital – Michael Lowenstein: Gained $9.7 million

2. Brookside Capital – Bain Capital: Gained $9.0 million

3. Intrepid Capital Management – Steve Shapiro: Gained $3.2 million

4. Royce & Associates – Chuck Royce: Gained $1.3 million

5. Ardsley Partners – Philip Hempleman: Gained $855,000

6. Millennium Management – Israel Englander: Gained $777,000

7. Courage Capital – Richard C. Patton: Gained $303,000

8. D E Shaw – D. E. Shaw: Gained $294,000

9. Catapult Capital Management – Israel Englander: Gained $271,000

10. Sac Capital Advisors – Steven Cohen: Gained $264,000

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