Activist Bill Ackman’s Latest Target: JC Penney
Pershing Square Capital founder said in a regulatory filing that he owns slightly more than 39 million shares of common stock of the retailer, or about 16.5 percent of the total outstanding shares.
Stephen Taub
October 8, 2010
William "Bill" Ackman, founder and chief executive officer of Pershing Square Capital Management LP, speaks at a book signing for "Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff" in New York, U.S., on Thursday, May 13, 2010. The book, by Christine Richard, details how Ackman used credit default swaps to wager against MBIA Inc.'s AAA-rated bond insurer, sparking a long feud between the fund manager and the company. Photographer: Peter Foley/Bloomberg *** Local Caption *** William Ackman
Peter Foley/Bloomberg
