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The Boston Globe


Boston Capital

Boston hedge firm Baupost cashes in on Idenix sale

For a famously cautious investor, Boston hedge fund manager Seth Klarman made what seemed like a big bet on a single stock -- Idenix Pharmaceuticals Inc.

Klarman’s firm, the Baupost Group, began buying shares of Idenix in the spring of 2011 and didn’t stop until it owned more than 35 percent of the Cambridge biotech company this spring. That stake produced a huge profit for Baupost on Monday, when Idenix agreed to be bought by drug giant Merck for $3.85 billion.

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