Davidson Kempner Discloses Significant Position in Levy Acquisition Corp

New York-based hedge fund Davidson Kempner, managed by Thomas Lenox Kempner, has recently disclosed a new position in Levy Acquisition Corp (NASDAQ:LEVYU). According to a new filing with the Securities and Exchange Commission, Davidson Kempner now holds 1.5 million shares of the company. The stake is passive by nature and amasses 7.7% of the company’s outstanding common stock. At the current share price of the company, the value of the position amounts to $14.9 million.

Levy Acquisition Corp is a blank check company which went public last week, on November 15. Since blank check companies are created for the main purpose of merger, or asset/stock acquisition of another company, it has not yet identified a potential target, and hence has not generated any revenues or profits.

The IPO conducted by Levy Acquisition Corp involved selling of 15 million units at a price of $10 apiece. Following discounts and commissions, the proceeds earned by the company amounted to over $140 million.

According to the SEC database of filings, Davidson Kempner has been expressing its interest for blank checks for some time now. Over the last couple of months, the fund disclosed moves into five blank check companies, including Levy. Some of the latest have been ROI Acquisition Corp II (NASDAQ:ROIQU), and Quartet Merger Corp (NASDAQ:QTETU). This is not surprising, since Thomas Lenox Kempner often prefers to invest in various special scenarios.

According to the fund’s latest 13F filing, some of the top holdings in its equity portfolio involve NYSE Euronext (NYSE:NYX), in which Davidson Kempner owns 3.1 million shares, worth $127.3 million. In Dell Inc. (NASDAQ:DELL), the fund reported ownership of 8.3 million shares, with an aggregate value of $127.3 million, followed by a $95.2 million position in BMC Software, Inc. (NASDAQ:BMC), which contains 2.1 million shares

Disclosure: none

Recommended Reading:

Pacifica Capital Investments Slice Position in R.G. Barry Corp.

Robert Karr, Joho Capital Boost Holding in Veeco Instruments

Mario Gabelli, Gamco Investors Close Stake in Edgen Group