Ackman Loses Around $410M On J.C. PenneyVW Staff
Bill Ackman has sold his entire stake in J.C. Penney Company, Inc. (NYSE:JCP) to Citigroup Inc (NYSE:C) for $500 million according to a filing with the SEC today. The hedge fund manager announced on Monday that he had sold his entire stake in the company after a failed activist campaign at the retailer. Until this filing it was unclear how much Ackman had sold the stake for.
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