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Bill Ackman Raises $3 Billion Before Pershing Square’s Euronext Debut

BILL ACKMAN screen shot

Bill Ackman, manager of Pershing Square, raised $3 billion prior to Pershing Square’s debut on Amsterdam Euronext, scheduled for October 13. The fund will be priced at $25 a share, which gives Pershing Square a $6.2 billion valuation, as reported by International Business News. UBS and Deutsche Bank are underwriting the deal. The fund had $14.1 billion assets under management as of June 2014.

Bill Ackman has been tirelessly fighting in support of a  hostile takeover bid for botox-maker Allerganby Valeant. Pershing Square owns 9.7% of Allergan, which comprises 39% of its portfolio. Ackman also has a large short position in Herbalife, which he is trying to drive out of business because he thinks its business model is a ponzi scheme.

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