Billionaire Ackman trims stake in CP Rail, adding to fund's cash pile
(Source: Reuters, October 24, 2013)
NEW YORK — Billionaire investor William Ackman announced on Thursday that he sold 6 million shares in Canadian Pacific Railway Ltd after a huge run-up in the stock, adding a large pile of cash to his $11 billion hedge fund. Just over a year after winning a proxy fight and installing a new chief executive at Canada's second-largest railway, the sale will add roughly $800 million to Ackman's Pershing Square Capital Management fund.
Full story: Reuters
Friday, October 25, 2013
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