Tuesday, 26 May 2015
Last updated 3 days ago
Apr 29 2013 | 3:10pm ET
Pershing Square Capital Management's William Ackman is staking J.C. Penney's future on its real-estate.
Ackman is currently weighing a $1.75 billion loan commitment from Goldman Sachs, secured by a "significant" portion of its real-estate. The five-year loan would have an interest rate of about 6.5%, despite J.C. Penney's junk rating.
Barclays Capital is expected to make a competing offer next week, giving Ackman and Penney their choice of financing, the New York Post reports.
Pershing Square is Penney's largest shareholder. Last week, George Soros became the retailer's fourth-largest shareholder.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…