Deals
Ackman Rebuilds Hilton Worldwide Stake After 2017 Sell Off
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Billionaire investor Bill Ackman acquired a $696 million stake in Hilton Worldwide Holdings Inc., renewing his bet on the hotel operator following an exit last year after the stock soared to unprecedented levels.
His Pershing Square Capital Management LP bought 10.9 million shares, or 3.7 percent of Hilton, according to a statement Thursday. The investment represents 13.9 percent of the net asset value of Pershing Square Holdings Ltd.