In the News

14 Sept 2010 | Bloomberg Businessweek

Lionel Melka comments on the Airgas-Air Products deal

Airgas’s McCausland Spurns $506 Million Payday in Proxy Battle

“It’s now a referendum about McCausland, which is dangerous because he is the soul of this company,” Lionel Melka, an arbitrage investor who manages Bernheim Dreyfus & Co.’s Diva Synergy fund, including Airgas shares, said from Paris. “If I were Airgas, I would negotiate a friendly deal.”

08 Sept 2010 | Bloomberg Businessweek

Lionel Melka comments on the Sanofi-Genzyme deal

Sanofi’s CEO Pitches Genzyme Investors on Takeover

Genzyme investors had been seeking at least $80 a share, based on potential revenue growth after production deficiencies responsible for drug shortages get resolved, shareholder Lionel Melka, the chief investment officer for Bernheim Dreyfus & Co., said last week. The biotechnology company rose to $71.01 in Nasdaq Stock Market trading yesterday. That was the highest closing price since July 22, the last day of trading before Sanofi’s interest was first reported.

05 Sept 2010 | Seeking Alpha

Regarding Diva Synergy’s performance

Three Hedge Funds Heat Up in August

Bernheim, based in Paris, saw its Enhanced Fund jump 2.93% in August to bring its eurodenominated share class to 16.61% on the year. The four-year-old event-driven and merger arbitrage specialist, which manages about US$100 million, credited growing corporate activity in the U.S. for its success this year.

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