David Einhorn Makes $US92 Million From Bagels

David Einhorn just made over $US92 million on a bagel company.

Einstein Noah Restaurant Group announced on Monday that it reached an agreement to be acquired for $US20.25 per share in cash, or approximately $US374 million.

In afternoon trade on Monday, shares of Einstein were up more than 50% to about $US20.15.

David Einhorn’s hedge fund, Greenlight Capital, is the largest stockholder of Einstein Noah Restaurant Group and owns more than 35% of its shares, according to the company.

According to data from Bloomberg, Einhorn owns more than 13 million shares of Einstein, a stake worth more than $US270 million at current prices.

Einhorn called the deal a “win-win for all parties.”

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