Pershing Square Holdings, a fund
managed by activist investor Bill Ackman, raised $3.07 billion
ahead of a stock market listing in Amsterdam, the company said
The fund boosts the firepower of billionaire Ackman, famed
for aggressive moves such as a $1 billion bet against U.S.
nutrition firm Herbalife and a battle to broker a sale of Botox
maker Allergan to Valeant Pharmaceuticals.
The fund raised $2.73 billion through an initial public
offering and said the exercise of an over-allotment option would
see the value of the placing rise to more than $3 billion.
The fund was priced at $25 a share, giving it a market
capitalisation of $6.2 billion, the company said in a statement.
Oct 1 (Reuters) - Communications and events company UBM Plc
said it would buy trade show organiser Advanstar
Communications for $972 million, becoming the top events
organiser by revenue in the United States, but its shares fell
on concern it had overpaid.
News that UBM would fund the deal through a 563 million
pound ($912 million) rights issue also dampened sentiment.
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