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03

Ackman’s Hedge Fund Sells Off Big Stake in Canadian Pacific

By Tony Seruga

William A. Ackman, the billionaire investor, is once again shaking up his underperforming hedge fund’s portfolio by selling off a big equity stake in the railway company Canadian Pacific.

Mr. Ackman’s Pershing Square Capital Management on Wednesday sold its entire stake of 9.8 million shares in Canadian Pacific Railway in a series of trades arranged by Bank of America, Credit Suisse and JPMorgan Chase. The shares were valued at about $1.5 billion based on Tuesday’s closing price. Canadian Pacific shares closed on Wednesday at $147.28…

Ackman’s Hedge Fund Sells Off Big Stake in Canadian Pacific

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