News: Deals: Reports

Target Corp-Credit Card Receivables Business & JPMorgan Chase & Co	Update Date: 05/06/08
Date Announced: 05/05/08
Value (million $USD): 3.56 billion U.S. Dollar

Status: Pending

TRANSACTION DETAILS
Date Announced	05/05/08
Date Originally Announced	05/05/08
Format	Acq. Part. Int.	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	n/a
Value	3.56 billion U.S. Dollar	Advisor Fees	n/a

SYNOPSIS
US - JPMorgan Chase & Co agreed to acquire a 47% stake in the credit card receivables portfolio of Target Corp, an owner and operator of merchandise discount stores, for $3.557 bil in cash.

TARGET
Name	Target Corp-Credit Card Receivables Business
Industries	Short-term business credit institutions; Personal credit institutions
City	n/a
State	MN
Nation	United States
Incorporated in	n/a
Public Status	Subsidiary
Business Description	The assets comprised of the credit card receivables portfolio of Target Corp.
Advisors	Goldman Sachs & Co
Target Sales	n/a

ACQUIROR
Name	JPMorgan Chase & Co (JPM)
Industries	State banks,member fed reserve; Security brokers, dealers, and flotation companies; Investment advice; Commodity contracts brokers and dealers; Offices of bank holding companies; Investors, nec; Security and commodity services, nec; Personal credit institutions
City	New York
State	NY
Nation	United States
Incorporated in	DE
Public Status	Public
Business Description	JP Morgan Chase & Co, located in New York, New York, provides global financial services such as investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. The company operates in six divisions. Investment Banking provides advisory and risk management services. Retail Financial Services provides Home Finance, Consumer and Small Business Banking and Insurance. Card Services provides general purpose credit cards in the United States. Commercial Banking provides infrastructure for corporations, municipalities, financial institutions and not-for-profit entities. Treasury and Securities Services provide cash management service. Asset and Wealth Management provides investment management to retail and institutional investors, financial intermediaries, high-net-worth families and individuals globally. The company serves more than 90 million consumers nationwide in addition to corporate, institutional and government clients. The company was founded in 1968.
Advisors	JP Morgan & Co Inc
Acquiror Sales	103.76 billion U.S. Dollar

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