CtW Investment Group Believes Longs RE Undervalued - Calls for Greater Disclosure Sep 3, 2008 01:49PM

WASHINGTON, Sept. 3 /PRNewswire/ -- The CtW Investment Group sent the following letter today to Longs Drug Stores Corporation Governance and Nominating Committee chairperson Dr. Mary S. Metz in response to the news that Longs entered into a previously undisclosed agreement with CVS/Caremark (CVS) not to reveal the value of its real estate portfolio. The text of the letter follows: September 2, 2008 Dr. Mary S. Metz Chairperson, Governance and Nominating Committee Longs Drug Stores Corporation 141 North Civic Drive Walnut Creek, California 94596 Dear Dr. Metz, We are disturbed by the news that Longs entered into a previously undisclosed agreement with CVS/Caremark (CVS) not to reveal the value of its real estate portfolio. We read public statements by David Heller, the Chairman of Advisory Research Inc., concerning information to this effect that he received from Longs' Chairman and CEO Warren Bryant. Like Mr. Heller, we view this as a highly questionable decision on Longs' part, since we believe ...


Large Longs Drug (LDG) Holder Advisory Research Questions Merger with CVS (CVS) Aug 20, 2008 01:24PM

In a 13D filing on Longs Drug Stores (NYSE: LDG), Advisory Research disclosed a 9.2% stake (3,304,287 shares) in the company and raised questions about the pending merger with CVS Caremark (NYSE: CVS). The firm is asking for additional information regarding the assets of the Company, specifically with respect to the valuation of the real estate owned and leased by the Company.

NOTE: It has also been reported that another large Longs Drug holder, Bill Ackman of Pershing Square Capital, has raised similar questions.

From the Filing:

"The Reporting Persons originally acquired the Common Stock for investment purposes in the ordinary course of business.

The Reporting Persons reviewed the proposed tender offer by Blue MergerSub Corp., an indirect wholly owned subsidiary of CVS Caremark Corporation ("CVS Caremark"), to purchase all outstanding shares of Common Stock of the Company (the "Offer").

To evaluate the Offering, the Reporting Persons asked the Company ...


Form 13F-HR Pershing Square Capital For: Jun 30 Aug 14, 2008 05:30PM

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5836405


Form SC 13D/A TARGET CORP Filed by: Pershing Square Capital Management, L.P. Aug 14, 2008 05:26PM

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5836345


Form SC 13D/A LONGS DRUG STORES CORP Filed by: Pershing Square Capital Management, L.P. Aug 14, 2008 06:03AM

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5831099




Aug 13, 2008 04:03PM The Shuman Law Firm Encourages Persons Who Currently Own Longs Drug Stores Corporation Common Stock to Consider Their Legal Options Concerning Possible Breaches of Fiduciary Duty Surrounding the Propo
Aug 12, 2008 05:09PM Best Trade Ever - Ackman Scores Big on Longs Drug Stores (LDG)
Aug 12, 2008 06:01AM Form SC 13D/A LONGS DRUG STORES CORP Filed by: Pershing Square Capital Management, L.P.
Aug 7, 2008 05:26PM Form SC 13D/A LONGS DRUG STORES CORP Filed by: Pershing Square Capital Management, L.P.
Aug 5, 2008 08:51AM Ackman's Pershing Square Builds 8.8% Stake in Longs Drug Stores (LDG)
Aug 5, 2008 06:00AM Form SC 13D LONGS DRUG STORES CORP Filed by: Pershing Square Capital Management, L.P.
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