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UBS O’Connor is betting $4 billion on a revival in the merger-arbitrage market, which has struggled this year due to regulatory challenges. With a third of its portfolio in merger-arb, the firm anticipates a catalyst-rich quarter ahead, driven by the US presidential election and updates on key deals. Despite a slight recovery, merger-arb strategies remain among the weakest in hedge-fund performance, with a 3.5% gain compared to the broader industry’s 8.3%.
UnitedHealth Group and CVS Health are seeking the recusal of FTC Chair Lina Khan and two commissioners from a lawsuit against major pharmacy benefit managers (PBMs) over alleged anticompetitive practices that inflate insulin prices. They argue that the commissioners have shown bias against PBMs, claiming their public statements indicate a prejudgment of the case. The FTC's lawsuit, filed in September, targets CVS Caremark, Express Scripts, and Optum Rx for creating a rebate system that has contributed to soaring insulin costs.
UnitedHealth Group, CVS Health, and Cigna have filed motions to remove FTC Chair Lina Khan from an antitrust lawsuit regarding insulin pricing, claiming bias due to her public statements and appearances. They also seek the recusal of two other commissioners involved in the case. The lawsuit alleges that these pharmacy benefit managers engaged in unfair rebate practices that inflated insulin prices, while Khan's supporters defend her aggressive antitrust stance amid calls for her replacement from some wealthy donors.
Lina Khan
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ubs hedge fund bets on merger-arb revival amid regulatory challenges
Hess Corporation
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United States Steel Corporation
Chevron Corporation
UBS Asset Management AG
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11:00 15.10.2024
unitedhealth and cvs seek recusal of ftc chair in pbm lawsuit
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16:53 10.10.2024
big three pbms seek removal of ftc chair from insulin lawsuit
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23:40 09.10.2024
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