Bill Ackman Reduces Valeant Stake To Benefit Clients

As another tumultuous year has wiped out nearly 85% of Valeant Pharmaceuticals’ market value, Bill Ackman (Trades, Portfolio), one of its biggest investors, sold some shares to give his clients a year-end tax break. Ackman’s Pershing Square hedge fund initiated its Valeant (NYSE:VRX) position in early 2015 during the drugmaker’s heyday […]

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