Deals
FedEx Rises on Speculation Bill Ackman May Acquire Stake
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FedEx Corp., the biggest cargo airline, rose the most in nine months on speculation that it may be an investment target for William Ackman’s Pershing Square Capital Management LP.
The stock increased 4.4 percent to $103.15 at the close in New York trading for the largest one-day gain since Oct. 10. More than 11 million shares were traded, greater than six times the daily average volume over the past three months.