
Tag Archives Ackman

Ackman exits CP, freeing up cash for next bet
Boston/Montreal | Reuters — Billionaire U.S. investor William Ackman has exited his hedge fund’s investment in Canadian Pacific Railway, freeing up roughly US$1.5 billion in cash to make other future investments. Pershing Square Capital Management and CP on Wednesday said the New York-based hedge fund had sold its remaining 9.8 million shares in the Canadian […] Read more

CP scraps plans to buy Norfolk Southern
Reuters — Canadian Pacific Railway said on Monday it had scrapped efforts to buy Norfolk Southern, almost six months after it launched its unsolicited US$28 billion bid for the fourth-largest U.S. railroad operator. The announcement comes days after the U.S. Justice Department urged the Surface Transportation Board to reject a voting trust arrangement CP had […] Read more