Pursuits
Billionaire Bill Ackman Considered Investing in U.K.’s Tesco
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Billionaire activist investor Bill Ackman considered investing in British retailer Tesco Plc, which has announced a series of cost cuts to reverse a slide in profit.
Ackman decided against investing in Britain’s largest grocer, citing “difficulties with retail” in the past and amid current “structural changes” in the business, he told Bloomberg TV’s Francine Lacqua and Guy Johnson in London today. Ackman’s investment in U.S. retailer JC Penney Co. cost Pershing Square Capital Management $473 million in 2013.