Citing people familiar with the matter, the Journal said the investigation may be focusing on one hedge fund. The Journal said it was unclear if the investigation was more than informal.
NEW YORK (Reuters) - Authorities at the U.S. Securities and Exchange Commission are investigating trading in shares of business services company Alliance Data Systems Corp <ADS.N> on November 29, the Wall Street Journal reported on Friday.
Citing people familiar with the matter, the Journal said the investigation may be focusing on one hedge fund. The Journal said it was unclear if the investigation was more than informal.
Alliance Data shares fell by as much as 18 percent on November 29 on speculation its pending buyout by Blackstone Group <BX.N> was being renegotiated at a lower price.
The company issued a statement just before the close of trading that day, saying it had not been approached by Blackstone to renegotiate its $6.76 billion offer for the company.
!ADVERTISEMENT!Representatives from the SEC and Alliance Data could not be immediately reached for comment.
(Reporting by Emily Chasan; Editing by David Holmes)
