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IAM increases stake in BluMont |
Date: Monday, November 13, 2006
Author: Advisor.ca
Integrated Asset Management has announced its intention to purchase an additional 1.8 million common shares of BluMont Capital, in addition to the 3.2 million shares the firm purchased last month.
The new purchase will give IAM ownership of more than 61% of BluMont's outstanding shares.
IAM first announced plans to take over the hedge fund firm in May.
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