Content about Bill Ackman

August 26, 2013

Hedge fund manager and activist investor William Ackman is selling his entire stake in J.C. Penney.

New York -- Hedge fund manager and activist investor William Ackman is selling his entire stake in J.C. Penney.

Ackman's Pershing Square Capital Management, Penney’s single biggest shareholder with an approximate 18% stake, is offering its roughly 39.1 million shares for sale and used Citigroup as the bookrunner for the deal, Reuters reported. Penney filed a prospectus for the sale.

August 20, 2013

J.C. Penney Co. posted a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue. But even though Penney’s results were worse than expected, there were small signs that interim CEO Myron Ullman may be starting to stop the bleeding related to former CEO Ron Johnson’s failed transformation of the chain.

DALLAS — J.C. Penney Co. posted a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue. But even though Penney’s results were worse than expected, there were small signs that interim CEO Myron Ullman may be starting to stop the bleeding related to former CEO Ron Johnson’s failed transformation of the chain.

The quarter was the first entirely under the watch of Ullman, who returned to Penney in April to undo the strategy put in place by Johnson, who planned to transform Penney stores into a series of branded in-store shops.

August 16, 2013

J. C. Penney disclosed in a Securities and Exchange Commission filing on Friday that it entered into a Registration Rights Agreement with Bill Ackman’s Pershing Square and its affiliates that gives him an out to completely walk away from the company.

New York -- J. C. Penney disclosed in a Securities and Exchange Commission filing on Friday that it entered into a Registration Rights Agreement with Bill Ackman’s Pershing Square and its affiliates that gives him an out to completely walk away from the company. Under the deal, Ackman can make up to four requests to Penney to register the sale of his restricted common stock.

"It is paving the way for (Pershing Square) to sell the stock if they choose to do so," Imperial Capital analyst Mary Ross Gilbert said in a Reuters report.

August 16, 2013

J. C. Penney disclosed in a Securities and Exchange Commission filing on Friday that it entered into a Registration Rights Agreement with Bill Ackman’s Pershing Square and its affiliates that gives him an out to completely walk away from the company.

New York -- J. C. Penney disclosed in a Securities and Exchange Commission filing on Friday that it entered into a Registration Rights Agreement with Bill Ackman’s Pershing Square and its affiliates that gives him an out to completely walk away from the company. Under the deal, Ackman can make up to four requests to Penney to register the sale of his restricted common stock.

"It is paving the way for (Pershing Square) to sell the stock if they choose to do so," Imperial Capital analyst Mary Ross Gilbert said in a Reuters report.

August 15, 2013

As turmoil continues to surround J.C. Penney, one investor is upping his support of the embattled retailer even as two other large investors leave.

New York -- As turmoil continues to surround J.C. Penney, one investor is upping his support of the embattled retailer even as two other large investors leave. Regulatory filings on Wednesday revealed that billionaire investor George Soros has added two million shares to his current 19.98 million in Penney holdings.

The latest investment makes Soros Fund Management Penney’s second-largest investor, behind disgruntled hedge fund manager Bill Ackman.

August 15, 2013

As turmoil continues to surround J.C. Penney, one investor is upping his support of the embattled retailer even as two other large investors leave.

New York -- As turmoil continues to surround J.C. Penney, one investor is upping his support of the embattled retailer even as two other large investors leave. Regulatory filings on Wednesday revealed that billionaire investor George Soros has added two million shares to his current 19.98 million in Penney holdings.

The latest investment makes Soros Fund Management Penney’s second-largest investor, behind disgruntled hedge fund manager Bill Ackman.

August 13, 2013

J.C. Penney Co. announced that activist investor and hedge fund manager Bill Ackman has resigned from the board of directors of the company, effective Aug. 12.

New York -- J.C. Penney Co. announced that activist investor and hedge fund manager Bill Ackman has resigned from the board of directors of the company, effective Aug. 12. His resignation comes in the wake of a very public and heated campaign in which he called for the ouster of Penney interim CEO Myron Ullman and chairman Thomas Engibous.

August 13, 2013

J.C. Penney Co. announced that activist investor and hedge fund manager Bill Ackman has resigned from the board of directors of the company, effective Aug. 12.

New York -- J.C. Penney Co. announced that activist investor and hedge fund manager Bill Ackman has resigned from the board of directors of the company, effective Aug. 12. His resignation comes in the wake of a very public and heated campaign in which he called for the ouster of Penney interim CEO Myron Ullman and chairman Thomas Engibous.

August 12, 2013

Activist investor Bill Ackman of Pershing Square Capital Management plans to abandon his push for a quick replacement to J. C. Penney CEO Mike Ullman, according to the New York Post.

New York -- Activist investor Bill Ackman of Pershing Square Capital Management plans to abandon his push for a quick replacement to J. C. Penney CEO Mike Ullman, according to the New York Post. The report says that it now appears that Penney will proceed with a more deliberately paced search for a replacement for Myron Ullman, who assumed the role of interim CEO in April in the wake of Ron Johnson's firing.   

August 12, 2013

Activist investor Bill Ackman of Pershing Square Capital Management plans to abandon his push for a quick replacement to J. C. Penney CEO Mike Ullman, according to the New York Post.

New York -- Activist investor Bill Ackman of Pershing Square Capital Management plans to abandon his push for a quick replacement to J. C. Penney CEO Mike Ullman, according to the New York Post. The report says that it now appears that Penney will proceed with a more deliberately paced search for a replacement for Myron Ullman, who assumed the role of interim CEO in April in the wake of Ron Johnson's firing.   

August 9, 2013

Scathing letters continued flying back and forth on Friday, between activist investor Bill Ackman and the J.C. Penney board of directors — each attacking the other’s handling of the CEO search process and timing.

New York City -- Scathing letters continued flying back and forth on Friday, between activist investor Bill Ackman and the J.C. Penney board of directors — each attacking the other’s handling of the CEO search process and timing.

Then, CNBC reported that Perry Capital, a 7% Penney stakeholder, has weighed in as well, and will file a 13-D urging the board to immediately remove Mike Ullman as CEO, and replace his leadership with Allen Questrom as chairman and Footlocker’s Ken Hicks as CEO.

August 9, 2013

Scathing letters continued flying back and forth on Friday, between activist investor Bill Ackman and the J.C. Penney board of directors — each attacking the other’s handling of the CEO search process and timing.

New York City -- Scathing letters continued flying back and forth on Friday, between activist investor Bill Ackman and the J.C. Penney board of directors — each attacking the other’s handling of the CEO search process and timing.

Then, CNBC reported that Perry Capital, a 7% Penney stakeholder, has weighed in as well, and will file a 13-D urging the board to immediately remove Mike Ullman as CEO, and replace his leadership with Allen Questrom as chairman and Footlocker’s Ken Hicks as CEO.

August 8, 2013

According to multiple reports on Thursday, J.C. Penney will replace Myron “Mike” Ullman as CEO, and the search pace is being pressured by top investor Bill Ackman.

Plano, Texas -- According to multiple reports on Thursday, J.C. Penney will replace Myron “Mike” Ullman as CEO, and the search pace is being pressured by top investor Bill Ackman.

Penney, which has not commented on the reports, is being pushed to name a new CEO in 30 to 45 days, revealed in a letter Ackman sent to the retailer’s board of directors. Ackman also told board members that former Penney CEO Allen Questrom would return as chairman if the retailer chose a new CEO he liked.

August 8, 2013

According to multiple reports on Thursday, J.C. Penney will replace Myron “Mike” Ullman as CEO, and the search pace is being pressured by top investor Bill Ackman.

Plano, Texas -- According to multiple reports on Thursday, J.C. Penney will replace Myron “Mike” Ullman as CEO, and the search pace is being pressured by top investor Bill Ackman.

Penney, which has not commented on the reports, is being pushed to name a new CEO in 30 to 45 days, revealed in a letter Ackman sent to the retailer’s board of directors. Ackman also told board members that former Penney CEO Allen Questrom would return as chairman if the retailer chose a new CEO he liked.

April 10, 2013

A Wednesday report by Women’s Wear Daily quoted activist investor Bill Ackman, whose Pershing Square Capital Management is the largest shareholder of J.C. Penney Co., as saying that he won’t abandon the retailer following this week’s CEO shake-up.

New York -- A Wednesday report by Women’s Wear Daily quoted activist investor Bill Ackman, whose Pershing Square Capital Management is the largest shareholder of J.C. Penney Co., as saying that he won’t abandon the retailer following this week’s CEO shake-up.

"We are not going anywhere," Ackman told WWD in his first public comments since Ron Johnson was fired as CEO on Monday. "In fact, we're going the other direction. We're digging in."

April 10, 2013

A Wednesday report by Women’s Wear Daily quoted activist investor Bill Ackman, whose Pershing Square Capital Management is the largest shareholder of J.C. Penney Co., as saying that he won’t abandon the retailer following this week’s CEO shake-up.

New York -- A Wednesday report by Women’s Wear Daily quoted activist investor Bill Ackman, whose Pershing Square Capital Management is the largest shareholder of J.C. Penney Co., as saying that he won’t abandon the retailer following this week’s CEO shake-up.

"We are not going anywhere," Ackman told WWD in his first public comments since Ron Johnson was fired as CEO on Monday. "In fact, we're going the other direction. We're digging in."

May 26, 2011

Bill Ackman, the founder of Pershing Square Capital Management, has taken a “passive” stake in Family Dollar Stores, Bloomberg reported.

New York — Bill Ackman, the founder of Pershing Square Capital Management, has taken a “passive” stake in Family Dollar Stores, Bloomberg reported.  Ackman, speaking at the Ira Sohn Conference in New York, said he invested in Family Dollar Stores  because it’s “very reasonably priced” and may be acquired.

“It’s a good business, it’s done very well for a long time,” he said, according to the report. “It’s an attractive LBO transaction.” 

December 6, 2010

Activist investor Bill Ackman’s Pershing Square Capital Management raised its stake in Borders Group from 31.5% to 37.3% ...

New York City -- Activist investor Bill Ackman’s Pershing Square Capital Management raised its stake in Borders Group from 31.5% to 37.3% and is prepared to finance an offer by Borders to buy larger rival Barnes & Noble, according to a filing with the Securities and Exchange Commission Monday.

According to the statement, Ackman is prepared to finance an offer by Borders to buy all of Barnes & Noble’s stock in an all-cash transaction valued at $16 per share, which would amount to about $960 million, based on the shares outstanding.