PershIng Settles Longs Drug Swaps - Todd Sullivan

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PershIng Settles Longs Drug Swaps
Oct 29, 2008 01:47 PM UTC

Todd Sullivan

Return	Risk
-13.50%	MID

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Symbol	Sentiment	Start	Return	Closed
CVS	n/a
LDG	n/a

Via Todd Sullivan's ValuePlays:

Bill Ackman has settled his Longs Drug (LDG) total return swaps with the CVS (CVS) biuyout complete.

From the filing:
"In connection with the successful tender offer by Blue MergerSub Corp., an indirect wholly-owned subsidiary of CVS Caremark Corporation, to purchase all outstanding shares of common stock of the Issuer, certain counterparties to Pershing Squareâ€™s Swaps have terminated certain of the Swaps. As a result, these Swaps were settled in cash between such parties relating to...

Continued at Todd Sullivan's ValuePlays

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