Entries tagged "CVS Caremark"
It is a rare moment when Pershing Square Capital Management LP's vocal activist William Ackman lays off of his battered financial sector short targets, but it appears he has a soft spot in his heart for the ailing Lehman Brothers Inc. In an appearance on CNBC's "Squawk Box" on Wednesday morning, the hedge fund manager discussed Lehman, Fannie Mae, Freddie Mac and Longs Drug Stores Corp....
As they say when it comes to retail, it is all about location, so it should come as no surprise that two retailers involved in deals are vying over the pricing of their real estate. ...
William Ackman of Pershing Square Capital Management LP stands to make a very pretty penny if the CVS Caremark Corp. offer to buy Longs Drug Stores Corp. for $71.50 per share closes. The activist investor acquired most of his 25.8% stake in Longs in July and early August, when the shares traded in the low $40s to the mid $50s range through a mix of common stock purchases and the acquisition of notional shares via total return swap arrangements. But, according to Friday's Financial Times, a return in excess of 30% for a very short-term holding may not be enough...
