Wow
In its annual report in February Leucadia (LUK) booked an $85 million loss on the investment in Target (TGT).
In the most recent 10-Q for the first nine months of 2008 Leucadia is booking another $27.7 million dollar loss on the investment.
Pershing head, Bill Ackman recently unveiled his plan for the retailer. One has to assume as his options, dated 1/2010 get closer to coming due he will begin to put real pressure on the retailer.
Disclosure (“none” means no position):none
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