http://www.bloomberg.com/apps/news?pid=20601103&sid=aoh.JuHEG690&refer=news Napster Takeover Looms as Funds See Cash Exceed Stock (Update1) By Don Jeffrey Enlarge Image/Details July 18 (Bloomberg) -- Napster Inc., the Internet music pioneer whose shares have plunged 95 percent in six years, has become takeover bait for hedge funds zeroing in on a cash hoard exceeding the company's market value. While Los Angeles-based Napster hasn't posted a profit in four years, its $69.8 million in cash and investments as of March 31 eclipses the shares' $52.1 million value. The company's biggest investor, New York-based hedge fund Eminence Capital LLC, boosted its stake to 9 percent in the second quarter, according to regulatory filings. Napster may be an attractive target for a buyer like JDS Capital Management Inc., the New York hedge...
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