Valeant Pharmaceuticals still has plenty of supporters despite the media storm surrounding the company and its businesses practices.
Last night it emerged that Bill Ackman, one of Valeant’s most staunch supporters, has upped Pershing Square’s stake in Valeant to 9.9% of the company’s outstanding shares — a near 70% increase in Pershing’s holding before recent declines.
Pershing Square Ups Valeant Stake Explained In A Few Charts
Bill Ackman’s Pershing Square is now Valeant Pharmaceuticals’ second largest shareholder
Bill Ackman’s Pershing Square is now Valeant’s second largest shareholder after the Sequoia Fund, which is run by Ruane, Cuniff & Goldfarb. The Sequoia Fund itself has come under fire for its Valeant position. Two of the fund’s five independent directors resigned during October after the concerns about Valeant’s...
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