Ackman exits Canadian Pacific, freeing up $1.5 bln for next bet: Reuters
Billionaire investor William Ackman has exited his hedge fund's investment in railway company Canadian Pacific Railway Ltd, freeing up roughly US$1.5 billion in cash to make other future investments. Ackman's Pershing Square Capital Management and Canadian Pacific said this week the New York-based hedge fund sold its remaining 9.8 million shares in the railroad, representing a 6.51 percent stake, through trades organized by J.P. Morgan, Credit Suisse and B of A Merrill Lynch. Pershing Square earned some US$2.6 billion on its investment.
4 August 2016•2 mins read
