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Ackman Takes Fannie Mae Stake as Berkowitz Plans Revamp

Bill Ackman’s hedge fund-firm took stakes in Fannie Mae and Freddie Mac, the government-owned mortgage insurers that investor Bruce Berkowitz is seeking to restructure, and said it may seek talks with management, shareholders and the government.

Pershing Square Capital Management LP bought a 9.98 percent stake in the common shares of Fannie Mae that aren’t owned by the U.S. government, and a 9.77 percent stake in the Freddie Mac shares available to the public, according to a regulatory filing today. The government owns almost 80 percent of both companies since bailing them out in 2008.