Monday, 22 December 2014
Last updated 17 hours ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.