Deals
Ackman Sells Valeant Stake After at Least $2.8 Billion Loss
- Ackman, Fraidin won’t stand for re-election at annual meeting
- Jefferies offered shares to market for $11.10 to $11.40 each
Bill Ackman Sells Valeant Stake After $2.8 Billion Loss
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Bill Ackman has finally conceded defeat on Valeant Pharmaceuticals International Inc.
After waging a costly and outspoken public defense of the controversial drugmaker, its once-biggest champion sold his entire stake in the company at a loss and said he will leave the board.