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Anchorage, Highland and Other Hedge Funds Await MGM’s IPO

Managers are hoping the Hollywood studio’s triple-digit returns will bring a happy ending to its bankruptcy drama.

Hollywood studio Metro-Goldwyn-Mayer has been keeping hedge fund managers on the edge of their seats with a big coming attraction: an initial public offering. New York–based Anchorage Capital Group is MGM’s largest shareholder, with a 30 percent stake. Also awaiting the IPO are Highland Capital Management in Dallas and New

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