DETROIT Dec 4 Hedge fund Hayman Capital has
taken a stake in General Motors Co and believes the U.S.
automaker's stock is poised to rise more than 40 percent over
the next 12-18 months after the U.S. Treasury finishes exiting
its stake in the company, Bloomberg reported on Wednesday.
The stake Hayman Capital Management LP has taken in GM is
one of the Dallas-based hedge fund's largest investments,
Bloomberg said, citing a unidentified person familiar with the
GM shares were up 3.6 percent, or $1.36, to $39.50 in midday
trading on the New York Stock Exchange.
J. Kyle Bass, managing partner and founder of Hayman, who in
a presentation online called GM a "compelling" investment, could
not immediately be reached to comment.
GM declined to comment to Reuters. A spokesman told
Bloomberg the company was not aware of any position Hayman had
(Reporting by Ben Klayman in Detroit; Editing by Alden Bentley)