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Pershing Square looks to raise $1 billion for bet on unnamed company

BOSTON (Reuters) - Hedge fund manager William Ackman is ready to bet big on an unnamed U.S. company and is asking pension funds and endowments to commit $1 billion to two new funds by the end of next week to help him make that investment. Full story

Ackman says believes in J.C. Penney, new CEO

NEW YORK (Reuters) - J.C. Penney Co Inc <JCP.N> board member William Ackman said on Thursday that he still believes the retailer's shares could be worth $75 each, if revenue returns to 2011 levels and yearly expenses are contained at current levels, instead of the $15 they trade at now. Full story

Herbalife short-seller sues banks, Icahn over alleged fraud

(Reuters) - A short seller in Herbalife Ltd's <HLF.N> stock has sued officials at three major U.S. banks as well as activist investor Carl Icahn, saying they are helping perpetuate a fraudulent pyramid scheme at the nutritional products company. Full story

Procter & Gamble Q2 profit soars, forecast boosted

(Reuters) - Procter & Gamble Co's <PG.N> quarterly profit soared past expectations as the world's largest household products maker used higher prices and new products to reignite growth in sluggish markets such as the United States. Full story

Ackman Won't Give Up on JC Penney Yet

   Activist investor and Pershing Square Capital CEO, William Ackman explains why he is giving the retail company several years to turnaround, despite its recent sales plunge.

Ackman: P&G Has Stumbled Over Past Few Years

   P&G has been one of the great growth companies of all times but quite frankly it has stumbled over the past couple of years under the current CEO's leadership, said William Ackman, Pershing Square Capital Management founder & CEO, discussing the proble...

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  Ackman on New P&G Stake

CNBC's David Faber discusses Procter & Gamble, and real estate, with William Ackman, Pershing Square Capital founder/CEO; Barry Sternlicht, Starwood Capital Group chairman/CEO; and Jonathan Gray, BlackStone Group. The Fast Money traders share their opi...

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Related Photos

File photos of Carl Icahn and William Ackman
File photos of Carl Icahn and William Ackman

A combination file photo shows investor Carl Icahn speaking at the Wall Street Deals & Deal Makers conference in New York, June 27, 2007 and William Ackman, CEO of Pershing Square Management LP at AGM of CP Rail in Calgary, Alberta, May 17, 2012. Billionaire investor Carl Icahn, known for his stron

File photo of William Ackman, CEO of Pershing Square Capital Management, speaking at the Partner Connect 2013 conference in Boston
File photo of William Ackman, CEO of Pershing Square Capital Management, speaking at the Partner Connect 2013 conference in Boston

William Ackman, CEO of Pershing Square Capital Management, speaks at the Partner Connect 2013 conference, sponsored by Thomson Reuters, in Boston in this April 5, 2013 file photo. Billionaire investor Carl Icahn, known for his strong-arm tactics in America's boardrooms, tried to bury the hatchet on

William Ackman, CEO of Pershing Square Capital Management, speaks at the Partner Connect 2013 conference in Boston
William Ackman, CEO of Pershing Square Capital Management, speaks at the Partner Connect 2013 conference in Boston

William Ackman, CEO of Pershing Square Capital Management, speaks at the Partner Connect 2013 conference, sponsored by Thomson Reuters, in Boston in this April 5, 2013, file photo. Hedge fund manager Ackman's strong returns have made him into one of Wall Street's biggest managers, but even he may st