View Post

After Selling Majority Stake, William Ackman Finally Departs JCPenney

In Industry News, Reports, What's New by Jeff PrineLeave a Comment

New York—After a controversial and often contentious tenure as JCPenney’s largest shareholder and member of its board of directors, William Ackman, activist investor behind Pershing Square Capital Management, has sold his stake in the retailer. According to documents filed Monday in a regulatory filing with the Securities & Exchange Commission …

View Post

JCPenney Enacts Poison Pill After Ackman Buy

In People, Profiles, Reports, What's New by Accessories StaffLeave a Comment

People

Plano, TX—JCPenney adopted today an anti-takeover defense, after hedge fund manager Bill Ackman and Vornado Realty Trust bought about 25% stake in the retailer’s shares. Although Ackman’s name was not mentioned specifically, but in a statement, JCPenney’s board of directors stated: “The Board adopted the Rights Plan, which has a …