Friday, August 23, 2013

Mr. John A. Paulson loves Steinway's pianos - buys the whole company!

John A. Paulson, the hedge fund billionaire, already owns three Steinway & Sons pianos: the medium model M grand, the larger model O and the nearly seven-foot-long model B, together worth tens of thousands of dollars. While Paulson & Company owns stakes in companies, it has never before bought one outright. But Mr. Paulson said that the calculation was rather simple — he loves the pianos.Mr. John A. Paulson loves Steinway's pianos - buys the whole company.

http://dealbook.nytimes.com/2013/08/14/paulson-agrees-to-buy-steinway-for-512-million/

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