Deals Rumor Mill: JC Penney, RBS, Blackstone

Law360, New York (August 20, 2013, 4:08 PM ET) -- Hedge fund manager J. Kyle Bass ramped up confidence in J.C. Penney Co. by taking a long position in the sputtering retailer, betting on a turnaround a week after activist investor Bill Ackman said he would sever ties with the company amid a dispute over management, Bloomberg reported Tuesday. Bass, who specializes in corporate turnarounds, has picked up stock in Texas-based J.C. Penney during the past two weeks by buying into the retailer’s secured loans. The mall mainstay has lost one-third of its value so far...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers