The Traderszone Network

Published in TZ Latest News 9 March, 2015 by The TZ Newswire Staff

Ackman’s Pershing Square makes $3.3 billion bet on Valeant

Hedge fund mogul William Ackman has purchased a $3.3 billion stake in Valeant Pharmaceuticals International (VRX.TO), making his firm the drug company’s fifth-largest stakeholder, a source familiar with the matter said on Monday. Ackman’s $20 billion Pershing Square Capital Management began building up the 5 percent stake in the Canadian drug maker this year, only months after his vocal effort to help Valeant buy Botox-maker Allergan (AGN.N) failed.

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