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Actionable news in M: MACY'S Inc,

Will This Stock Double In 2016?

Summary

Starboard likes Macy's plan to monetize real estate.

Baxalta and Affymetrix sold.

Five final days of StW free trials for anyone interested.

Welcome to the Macy's Real Estate Parade issue of M&A Daily.

Macy's

Activist investor Starboard supports the recent actions by Macy's (NYSE:M) to maximize shareholder value. Its view (and mine) is that the JV structures that Macy's is actively exploring could be the best way to unlock its significant real estate value. Starboard's plan is for two JVs, one for its hundreds of mall locations and another for landmark locations such as Harold Square. If the activists are right, Macy's shares are worth about $70 per share or almost twice today's market price. For an additional bargain, Macy's gift cards are available for double-digit discounts.

Shire

Shire (NASDAQ:SHPG) agreed to acquire Baxalta (NYSE:BXLT) in a cash and stock deal valued at about $32 billion. BXLT holders get $18 in cash and 0.1482 SHPG per share.

Shire expects over half a billion dollars per year in cost synergies within the first three years of the combined company. Baxter (NYSE:BAX) supports the deal after it became confident that it preserves the tax-free nature of the BXLT spin-off. The deal will close...


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