Reported about 1 month ago
Millennium Management and Athos Capital are among hedge funds facing significant losses following the unexpected collapse of a deal involving China Traditional Chinese Medicine Holdings Co., which had seen a sharp decline in stock prices after regulators rejected a privatization bid from China National Pharmaceutical Group. The firms, which had substantial stakes in the company, have since trimmed their holdings as the failed deal affected their portfolios, highlighting the challenges faced by hedge funds specializing in event-driven trading during a volatile market.
Source: YAHOO