Notes 2022: You pay EUR 33,50 per share, the mark to market of shares held is $49,43.
The upside is now 48%
Notes 2018: You pay $14,86 today per share of Pershing and the sum of the parts Net Asset Value per share is $19 which you would have to pay to get the same number of underlying shares in companies if you bought them directly. The upside is 28% roughly the same as it has been for a few years.
Notes 2020: You pay: $23,80 and SOTP (Sum Of The Parts) Net Asset Value is $34,75
More than 50% increase in NAV 2 years. A great result for Bill Ackman.
Upside: 46% and Ackman is now buying back shares (good for shareholders).
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