Pershing Square started purchasing common stock and options of Longs Drug Stores Corporation at the end of June 2008 and, by the end of July 2008, accumulated an 8.8% beneficial ownership position and eventually obtained an approximately 25.8% economic stake in the company. On August 12, 2008, Longs Drug announced that it had entered into an agreement with CVS Caremark Corporation at a price of $71.50 per share. Pershing Square believed that... More