A long-simmering battle between Bally Total Fitness Corp. and two hedge funds has ratcheted up recently, with the health-club operator accusing the funds of acting in tandem and triggering a poison pill to weaken their ownership stakes.

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A long-simmering battle between Bally Total Fitness Corp. and two hedge funds has ratcheted up recently, with the health-club operator accusing the funds of acting in tandem and triggering a poison pill to weaken their ownership stakes.
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