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9. Covidien ( COV)

Company Profile: Based in the U.K., Covidien sells health-care products, such as medical devices and supplies, for use in clinical and home settings.

Paulson's Investment: Paulson & Co. snatched 2 million shares of Covidien in the third quarter. The position had a market value of $88 million as of Sept. 30.

Share Price Performance: Since the end of the third quarter, Covidien shares have climbed more than 7%.


8. Temple-Inland ( TIN)

Company Profile: Temple-Inland manufactures containerboard and converts it into a complete line of corrugated packaging. International Paper ( IP) announced in September it will buy the company for nearly $4 billion.

Paulson's Investment: Playing on the merger-arbitrage opportunity, Paulson picked up 3 million shares of Temple-Inland last quarter, which was worth $94 million as of Sept. 30.

Share Price Performance: The takeover offer by International Paper has boosted Temple-Inland's share price by 50% this year. Since the deal was announced in early September, shares have ticked higher by only 2%.

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