So maybe all of the big retail acquisitions over the past fewyears won't turn out to be real estate plays. VornadoRealty Trust and the private-equity firms that acquired Toys "R" Usin 2005 are takingthe chain public in an IPO valued at $820 million.
It is apparently the largest IPO this year and the biggest onein retail since DollarGeneral filed its $824-million offering in November.
So how will Toys do? Fitch Ratings had some good things to say about the offering,giving the measure a positive rating: "The current ratings reflectToys' successful operating strategy which resulted in improvedoperating results and credit metrics in fiscal 2009 despite thechallenging operating environment."
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