Saturday, 25 October 2014
Last updated 1 day ago
Mar 31 2010 | 2:31am ET
Pershing Square Capital Management will get paid after all tomorrow, as bookstore chain Borders Group nears a new financing deal.
The troubled retailer is close to arranging the financing to allow it to repay New York-based Pershing Square, Bloomberg News reports. The $42.5 million loan, made by the hedge fund two years ago, comes due tomorrow. Pershing Square, which is Borders’ largest shareholder, has already renegotiated the loan three times.
In February, Pershing Square chief William Ackman said there was only a “low possibility” of Ann Arbor, Mich.-based Borders filing for bankruptcy.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.