Crescendo builds stake in Cott soft drinks

May 27th, 2008
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Activist Hedge fund Crescendo Partners bought 8.7% share in soft drink manufacturer Cott in hopes to change management and turn the company around. Cott fell on rough times after loosing its contract with Wal-Mart to provide discount soft drinks. With the news that Crescendo Partners is interested, Cott's stock jumped 13% to $3.60/ share which is still significantly lower than the $17.56 premium it was trading at in May of 2007.

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