British Billionaire Buys Into Bear Stearns
Published September 10th, 2007
Joseph C. Lewis, the British billionaire who was once the largest shareholder in the auction house Christie’s, has built up a stake in Bear Stearns.
A regulatory filing Monday showed that firms controlled by Mr. Lewis have amassed a 7 percent stake in Bear Stearns, one of the Wall Street firms that has been hardest hit by the recent market turmoil. The stake was disclosed in a 13D filing, which often indicates that an outside investor plans to take an active role at a company.
With about 8.1 million shares, Mr. Lewis now has more equity in Bear Stearns than the firm’s chief executive, James Cayne.
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