(Total Views: 617)
Posted On: 03/14/2017 8:36:24 PM
Post# of 106502
Bill Ackman loses nearly $4,000,000,000.00
Tacitly conceding he'd failed to halt the stock's all, Ackman issued an announcement after financial markets closed Monday that he had sold the last of his 5.3% investment and would not seek re-election to Valeant's board of directors.
Ackman's Pershing Square Capital Management hedge fund had amassed the Valeant stake at an average price of $196 a share, according to the fund's 2016 annual report. In dramatic contrast, the fund dumped the roughly 27 million remaining shares at an average price of roughly $11 each, CNBC reported, citing unidentified sources.
In all, the loss totals nearly $4 billion , according to several media reports.
http://www.usatoday.com/story/money/2017/03/1.../99161584/
Tacitly conceding he'd failed to halt the stock's all, Ackman issued an announcement after financial markets closed Monday that he had sold the last of his 5.3% investment and would not seek re-election to Valeant's board of directors.
Ackman's Pershing Square Capital Management hedge fund had amassed the Valeant stake at an average price of $196 a share, according to the fund's 2016 annual report. In dramatic contrast, the fund dumped the roughly 27 million remaining shares at an average price of roughly $11 each, CNBC reported, citing unidentified sources.
In all, the loss totals nearly $4 billion , according to several media reports.
http://www.usatoday.com/story/money/2017/03/1.../99161584/
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