Bill Ackman Plans To Sell 7 Million CP Shares

Bill Ackman’s Pershing Square Capital Management L.P., plans to sell up to 29 percent of its stake in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP). New York hedge fund manager Bill Ackman owned Pershing Square in its regulatory filing Monday, reported it plans to sell up to 7 million of its shares in the Calgary, Alberta company, as a result of its strong performance in the stock market. Bill Ackman’s Stake In Canadian Pacific: The hedge fund first started investing in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) shares in September 2011. Since then the stock price tripled making the hedge fund’s stake…