Deals
Ackman Seeks Money to Take Activist Stake in Large Company
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William Ackman’s Pershing Square Capital Management LP is raising money in the next 10 days for a special purpose vehicle to buy the stock of a large U.S. company, according to a letter sent to investors.
The target is a large-capitalization, investment-grade U.S. corporation that principally operates in one business, Ackman wrote in the letter, without naming the company. The stock trades at a lower multiple than its closest competitor.