Pershing Square Ups Stake In Canadian Railroad

Nov 23 2011 | 9:21am ET

William Ackman’s Pershing Square Capital Management has upped his stake in Canadian Pacific Railway, Canada’s second-largest railroad.

The activist investor has bought another $90 million worth of CP stock, reports Reuters, bringing his stake to 12.4%. Pershing revealed in a U.S. regulatory filing on October 28 that it had become the railroad’s biggest shareholder, at that time holding 12.2%.

Ackman is known for working “inside the tent” with management to try to improve the value of the business. Pershing has been mum on its plans for CP although Ackman has been reported as saying he did not think it should be sold.

CP, which operates a 14,000-mile rail network across Canada and into the United States, was formed in 1881 to build Canada’s first transcontinental railway.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...