Reuters – Harbinger Capital Partners hedge funds have taken a 9.5 percent stake worth nearly $53 million in Rayovac battery maker Spectrum Brands Inc., according to a filing with U.S. regulators.
Harbinger, which is focused on restructurings, liquidations, turnarounds and other special situations, made the disclosure in a filing with the U.S. Securities and Exchange Commission late Tuesday.
Harbinger Capital Partners Master Fund I Ltd. holds a 6.3 percent stake in Spectrum, with the remaining position held by Harbinger Capital Partners Special Situations Fund.
Based on Tuesday’s closing stock price, the total stake is valued at nearly $52.6 million.
