Political Interference Clips Hedge Funds' Desires to Trade on Mega Mergers
The Wall Street Journal
by Laurence Fletcher
"Megadeals are not that attractive, even though they make the headline news. They're quite political. One should be prudent when investing in these kind of situations," said Anne-Sophie d'Andlau, co-founder of Paris-based CIAM, whose fund is up more than 8% so far this year.
At CIAM we don't want to be in these situations. The French government don't even know themselves what they really want. Right now the risk-reward in situations such as Alstom isn't [attractive]."