As per the company website:
Justice is a publicly listed investment vehicle which completed its IPO in February 2011. Its founders, Nicolas Berggruen, Martin Franklin and William Ackman have until February 2014 to complete a business combination with an operating business in any industry sector or geographic location. Justice’s objective is to consummate a transaction of $5 billion to $10 billion in Total Enterprise Value.
Yesterday Ackman stated that it was a guaranteed investment:
Justin Limited trades on the UK exchange. Ackman owns 30% of the company. Ackman has a term on the capital, and in two years the company will liquidate and payout shareholders, if Ackman does not find good investments.
Further research showed VERY little information on the company available, since it was just formed. It is basically a special purupose acquisition corp (SPAC).
Here is the kicker from Ackman:
The stock is trading at 8.40 pounds and the cash of the company is 10 pounds. The stock ticker is JUSH.
The company has a market cap of close of approximately 750million pounds
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