Pershing

  • 05 Jun 2007 at 12:10 PM
  • Pershing

Pershing Target: Your Call

wackman.jpgObligatory activism post of the day: Pershing Square Capital Management has raised $2 billion to launch an assault on one “iconic American company.” The target is not known (to us), but the Post reports that Pershing told investors Friday that the capital would go toward a controlling stock position in a $30-40 billion market capitalization company with three divisions, all of which have “separate burdens depressing their value.” One needs its value unlocked, one needs to be sold, and one is simply “misunderstood.” Possible targets are BUD, KFT, MAR or HOT, with BUD up 2.5% on the news. Any guesses? In the last year, Pershing, under the guidance of William Ackman, has taken on Wendy’s International, Ceridian and McDonald’s.
Pershing Heads To War With $2B Fund [NYP]