Two Hedge Funds Form 'Group' and Control More than 5% of United Continental (UAL)

Hedge funds PAR Capital and Altimeter Capital each filed 13Ds after the close on United Continental (NYSE: UAL) disclosing a 2.4% stake and 3.1% stake, respectively. Together the two own 20,460,668 shares.

The two hedge fund have engaged in discussions regarding their strategies to enhance shareholder value and may be deemed members of a "group."

The funds didn't get into specifics but said they have engaged, and intend to continue to engage, in discussions with the company's management and members of the board of directors, among others.

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