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Pershing Square takes fresh stake in Canadian Pacific: Reuters

US hedge fund Pershing Square Capital Management has acquired a new stake in railroad operator Canadian Pacific, Reuters reported.

US hedge fund Pershing Square Capital Management has acquired a new stake in railroad operator Canadian Pacific, Reuters reported. Pershing Square, owned by billionaire William Ackman, reported holding 2.8 million Canadian Pacific shares at the end of December. That would value the stake at roughly C$280 million ($220 million). The investment will make Pershing Square one of the company’s top 20 shareholders.

Source: Reuters