News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Pirate stands to gain $23m on share sale

Activist hedge fund Pirate Capital stands to make a $23m (€17.8m) profit on its investment in PVC pipe maker PW Eagle, a boon to the hedge fund which suffered from poor performance and staff departures last year.

J-M Manufacturing agreed Tuesday to buy rival PW Eagle for $400m, or $33.50 per share.

WSJ Logo