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Entries tagged "Bill Ackman"Ackman gains support in Target proxy fightOn Thursday, proxy advisor firm Proxy Governance recommended shareholders side with Bill Ackman's Pershing Square Capital on several key points in its battle with Target. Target appeals to shareholdersTarget CEO Gregg Steinhafel published a letter to shareholders appealing to them to elect the retailer's nominees to the board of directors rather than Pershing's slate. Bill George refutes Ackman's Target proxyFormer Target board member Bill George tells TheDeal.com why Pershing Square chief Bill Ackman's proxy against the retailer is wrong. GM shares rally on bailout hopes, ignore bankruptcy advocatesShares of General Motors Corp. climbed more than 8% on Wednesday following comments by House Speaker Nancy Pelosi, D-Calif., calling on Congress and the Treasury to provide emergency financial assistance to the automobile industry. The stock fell back slightly in afternoon trading after Treasury Secretary Henry Paulson said he did not believe it was appropriate to use the $700 billion financial rescue program on automakers, as some have suggested. But the rise does reflect a growing feeling among auto insiders and some analysts that GM and its Detroit rivals are likely to receive enough government help to avoid Chapter 11... Ackman likely unhappy as bulls run up monolinesWhile the Dow Jones Industrial Average's 302.89 point gain to 11,734.32 on Friday may have put a little weekend spending cash in investors' pockets, activist investor Bill Ackman of hedge fund Pershing Square Capital Management LP may have a little less reason to celebrate as two of his short-selling targets, bond insurers MBIA Inc. and Ambac Financial Group Inc., each recorded double-digit gains over the past week on surprisingly strong earnings.... Triple-A monolines: A dying breedA top triple-A credit rating is a rarity in the troubled world of the bond insurers these days. And the few that still hold onto one are threatened with having it pulled out from under them. The newest on Moody's Investors Service ratings watch list: Assured Guaranty Corp. and Financial Security Assurance Inc., or FSA. ... Ackman: The short-selling savior?To put things in a simple and topical political context, would John McCain eagerly dole out political advice to Barack Obama or vice versa on how to win the presidential race? Of course not. So, why is Bill Ackman of Pershing Square Capital Management LP trying to play hero and devise what he believes is a rescue plan for his short-selling targets Fannie Mae and Freddie Mac, as he stands to gain from their demise? ... Borders renegotiates backstop deal with PershingActivist investor Pershing Square Capital Management LP has agreed to buy Borders Group Inc.'s international units, but that deal may be far from done. The insurgent revised Monday its financing agreement with Borders in a deal that is more favorable to the bookseller. In it, Pershing Square will pay $135 million for the bookstore's international chain, up from $125 million. The revised deal also includes a lower interest rate of 9.8% on a $42.5 million senior secured term loan offered by the activist fund. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Bill Ackman." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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