A large investment fund, Brookfield Asset Management, has taken advantage of the distressed price of Performance Sports Group (PSG) shares to accumulate a 13.2 percent stake in the company, which owns Bauer Hockey and other sports brands. The share price jumped by 16 percent to $4.16 on the news, but its current market capitalization of $186 million is way below a previous peak of around $1 billion. Sagard Capital, PSG's largest shareholder with its stake of 16.9 percent, was recently unable to put its chairman, Dan Friedberg, on PSG's board because it did not hold its annual meeting as scheduled at the end of August. PSG's lenders have given the company time until the end of this month to file its accounts for the last financial year.

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