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Entries tagged "Pershing Square Capital"At MBIA, it's like old timesAlthough activist investor William Ackman has moved on, monoline insurer MBIA is facing another activist, Martin Whitman, who is using a courtroom rather than a boardroom to wage his battle. Ackman to kick down Target's doorsIf your shouts are not heard from outside of the board room door, the next step is to kick it down and take over the meeting. Rally was too good to lastAs the bulls return to the market, activist investor William Ackman's Deal Stocks suffer declines too. Retailer losses ahead of Black Friday could help activist investorsAs Black Friday approaches, retailers are scrambling to meet business plans, especially with activist investors clamoring for changes. According to CNBC projected forecasts vary from the National Retail Federation's estimated 2.2% year-over-year sales gain to Global Hunter Securities' 6% to 8% decline. But some retailers are getting slammed harder than others, and activist investors on their boards will most likely have something to say about it. ... How much is enough for Ackman?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... 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.... Pershing boosts Longs stakePershing Square Capital Management LP, the hedge fund run by vocal activist investor Bill Ackman, has taken an 8.8% stake in Longs Drug Stores Corp. The move makes Pershing the retailer's second-largest shareholder behind Advisory Research Inc.'s 10.14% stake. ... 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. ... Moody's downgrades MBIA, Ambac, but is Ackman satisfied?Moody's Investors Service gave MBIA Inc. and Ambac Financial Services Inc. a swift kick in the you-know-what, with the removal of the monolines' triple-A ratings. Moody's on Thursday evening announced it had downgraded MBIA Insurance Corp.'s insurer financial strength rating two notches A2 with a negative outlook from triple-A. Ambac Assurance Corp.'s insurer financial strength rating was concurrently dropped one notch to Aa3 with a negative outlook from triple-A. The ratings actions follows a review for possible downgrade of the monolines' top ratings that was initiated on June 4. ... Ackman could book some bucks on Borders sale to Barnes & NobleHeadline-grabbing activist William Ackman of hedge fund Pershing Square Capital Management LP may stand to grab more than just headlines if a Barnes & Noble Inc. acquisition of Borders Group Inc. were to materialize. ... 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. ... MBIA to split businesses, eliminates dividendMBIA Inc. in a bid to retain its AAA credit rating and protect its municipal bond insurance business from potential structured finance insurance losses has announced plans to restructure its business as well as halt quarterly dividend payments and suspend the writing of new structured finance insurance. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Pershing Square Capital." 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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