Shares of HealthSouth Corp., Birmingham, Ala. -- far from their glory days -- drew the interest of Duquesne Capital Management, Pittsburgh, which bought a 6.4% stake in the reorganizing company. Duquesne's 25.4 million shares make it HealthSouth's second-largest shareholder. Fidelity Advisor Mid Cap Fund, which seeks long-term growth stocks, is HealthSouth's largest shareholder, owning 27 million shares as of May, according to Bloomberg News. HealthSouth shares were valued at about $5 per share in over-the-counter trading Tuesday, a big improvement from the spring of 2003, when the stock was trading at pennies per share following government allegations of multibillion-dollar accounting fraud at the company. However, through most of 2001 and 2002, the company's stock price was $12 to $18 per share. HealthSouth and Duquesne declined to comment on Duquesne's purchase, which was reported in an Oct. 14 Securities and Exchange Commission filing. -- by Joseph Mantone
Investment firm takes big stake in HealthSouth
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