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Pharmaceutical giant Glaxo Smith Kline is circling the wagons at his approach. Duke Energy has undoubtedly not enjoyed its discussions with him. Which is to say, Paul Singer’s rather ferocious reputation precedes him.

Given that reputation, it can be hard to imagine that Paul Singer has a soft side at all, and even those one can imagine generally involve Schadenfreude, personal advantage, harmful consequences, ulterior motives or some other very hard edge. But he does: For soccer, for dancing in fountains in extravagant headwear, for French liqueurs (although definitely not for French securities regulation), for music—especially reggae. And, it seems, for makers of twee, cutesy gifts, wrapping paper and, especially, cards.

Elliott said the deal will allow Chicago-based Paper Source to emerge from chapter 11 with a reduced debt load and roughly 130 stores across the U.S., along with its website and its Waste Not Paper by Paper Source wholesale division.

Hedge Fund Elliott to Buy Bankrupt Stationary Retailer Paper Source [WSJ Pro]
Elliott, the hedge fund striking fear into Glaxo [The Times]
Elliott Management Has Stake in Duke Energy [WSJ]

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