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.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at email@example.com.