Friday, December 03, 2010

US probes 'insider trading' in AstraZeneca deal

Trading activity around a takeover by AstraZeneca is being examined in the US over suspected insider trading by certain hedge fund players, it was reported today.

Authorities are scanning healthcare deals such as AstraZeneca's takeover of MedImmune in 2007, Merck's purchase of Schering-Plough and Wyeth's takeover by Pfizer last year, the Wall Street Journal said.

Last month the FBI raided several hedge funds against the backdrop of a widening probe into suspected insider trading in the $1.7 trillion hedge fund industry.

Posted via email from Jack's posterous

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