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Troubled retailer+Ackman= $5 bln REIT IPO?

Started by calm_girl, November 20, 2008, 12:02:30 AM

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calm_girl

Troubled retailer+Ackman= $5 bln REIT IPO?
      


Hedge fund manager William Ackman has come up with a plan to save troubled discount retailer Target: form a trust with the land the Minneapolis-based store chain owns, spin off 20 percent of that into a $5 billion IPO, then use that money to lower Target's debt and in the process maintain its credit rating. [...]
         

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