Ackman To Sell His Fund's 39.1 Million Shares In J.C.Penney

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Ackman To Sell His Fund's 39.1 Million Shares In J.C.Penney

Ackman To Sell His Fund's 39.1 Million Shares In J.C.Penney
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Ackman To Sell His Fund's 39.1 Million Shares In J.C.Penney

Wochit 1:07 mins

Hedge fund manager William Ackman, the single biggest shareholder in J.C. Penney , is selling his stake in the retailer. Ackman's $11 billion Pershing Square Capital Management is offering its roughly 39.1 million shares for sale and used Citigroup as the bookrunner for the deal, A source close to the matter said Goldman Sachs lost tens of millions of dollars after a computer glitch led to a flood of erroneous options trades last week, The stock market sagged in afternoon trading after Secretary of State John Kerry ratcheted up pressure against Syria. U.S. regulators and law enforcement agencies are expected to meet with an advocacy group for Bitcoin, a digital currency that has been under fire for its purported role in facilitating anonymous money transfers and supporting online purchases of illegal street drugs.

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