Canadian Pacific Railway shares were lower Thursday following news that billionaire investor William Ackman exited his position in the company. Ackman’s hedge fund Pershing Square sold its entire 9.84 million share stake in Canadian Pacific, which was valued at about $1.5 billion. In a statement, the company said it is not selling any common shares in the offering and will not receive any proceeds.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
