Hedge Fund Farallon Capital Raises Stake in Michaels Stores (MIK) to 5.2%
In a 13D filing on Michaels Stores, Inc. (NYSE: MIK), hedge fund Farallon Capital disclosed a 5.2% stake (6.9 million shares) in the company. This is up from the 2.1 million share stake the firm disclosed in a quarterly filing with the SEC.
The hedge fund noted in the filing that they "may engage in communications with one or more shareholders of the Company, one or more officers of the Company and/or one or more members of the board of directors of the Company regarding the Company, including but not limited to its operations."
On June 30th, Michaels Stores agreed to be acquired by private equity firms Bain Capital and The Blackstone Group for $44 per share. Shares of Michaels Stores closed at $43.01 per share on Monday.