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Published reports say that CR Intrinsic Investors, a Stamford, CT-based hedge fund, has acquired a 9.7 percent stake in Penn Traffic.

CR Intrinsic Investors is part of SAC Capital Advisors, which is described on the company’s website as “a multi-strategy, private asset management firm” that has “over 800 employees with approximately $14 billion in assets” and is “a multi-strategy, multi -disciplinary, investment management firm emphasizing rigorous research and risk management practices.”

The hedge fund is said to be interested in looking at strategic alternatives that may be available to Penn Traffic in the western New York marketplace as a result of the recent sale of Tops Markets by Ahold to Morgan Stanley.
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