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Mirant hit by activist hedge funds

Pirate Capital, the $1.7bn (€1.4bn) activist hedge fund, is one of two funds to criticise US power company Mirant's pursuit of rival NRG Energy.

In a letter to Edward Muller, chief executive of Mirant, Pirate founder and portfolio manager Thomas Hudson said his firm is concerned by Mirant's efforts to take over NRG.

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