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Pershing Square Capital Management LP Sells Entire Stake In J C Penney Company Inc-Reuters


Monday, 26 Aug 2013 06:49pm EDT 

Reuters reported that Hedge fund manager William Ackman, the biggest shareholder in J C Penney Company Inc said that he sold his entire stake. Ackman's Pershing Square Capital Management sold 39.1% million shares, which amounted to 18% of the Company, to Citigroup Inc, which is offering the shares to other investors.