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Celesio says Paul Singer voting stake falls to 1.15 percent
January 27, 2014 / 8:32 AM / 4 years ago

Celesio says Paul Singer voting stake falls to 1.15 percent

FRANKFURT, Jan 27 (Reuters) - Celesio AG on Monday said hedge fund manager Paul Singer’s voting stake in the German drug distributor has fallen to 1.15 percent as of January 22, regulatory filings show.

Elliott, a New York-based hedge fund led by U.S. investor Paul Singer, sold its stake to Celesio’s largest shareholder Haniel, which then tendered a combined stake of more than 75 percent of Celesio shares to U.S. rival McKesson , including those from bonds that convert into shares. (Reporting by Edward Taylor; Editing by Victoria Bryan)

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