Hedge Funds

Hedge fund seeks to stop Maurel & Prom’s takeover of MPI

London-based fund files legal injunction against French regulator's decision to give green light to $700 million takeover

Hedge fund seeks to stop Maurel & Prom’s takeover of MPI

A London-based hedge fund has filed a legal injunction attempting to halt French oil explorer Etablissements Maurel & Prom’s proposed $700 million takeover of MPI, a holding company to which it has close links.

Ledbury Capital Partners, which owns around 3.2% of MPI, says the deal undervalues the target company, according to the fund's lawyer.

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