Bweek: The Next Private Equity Bid

"D.E. Shaw, the giant quantitative hedge fund, has won permission to boost its stake in trading technology outfit Investment Technology Group (ITG).
In June, Shaw disclosed it owned 6.2% of the company and said it was pushing for changes at ITG to boost its stock price. On Sept. 4, the Federal Trade Commission approved Shaw's request to further increase its stake to 15%. The FTC action, under the Hart-Scott-Rodino Act, waives a waiting period and clears away antitrust concerns.
It's a step commonly taken by activist investors. "It provides them the freedom to increase their ownership of the company," says Damien Park, president of Hedge Fund Solutions. Last month, shares of Biogen (BIIB) hit a one-year high after activist investor Carl Icahn won FTC clearance to increase his stake in the company. "