Hedge Funds Line Up For JC Penney Shares After Ackman Exit

Law360, New York (September 4, 2013, 11:52 AM EDT) -- A pair of hedge fund managers disclosed new stakes in J.C. Penney Co. Inc. late on Tuesday, taking new positions a week after activist investor Bill Ackman's investment fund unloaded its entire stake in the sputtering retailer.

New York-based Glenview Capital Management LLC, run by Larry Robbins, ratcheted up its interest to 9.1 percent to more than double its holding, it said in a securities filing. Kyle Bass' Hayman Capital Management LP bought into the fellow Texas-based company for the first time, picking up 11.4 million...
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