Ackman’s Pershing Square exits ailing investment in Valeant

March 13, 2017 BOSTON (Reuters) – Billionaire investor William Ackman walked away from Valeant Pharmaceuticals International Inc on Monday with a roughly $3 billion loss after he sold his entire stake in the ailing drug company after trying to rescue it for some 18 months. Ackman’s Pershing Square Capital Management became one of the firm’s biggest investors in 2015 when it sunk some $3.2 billion into the company. Now he walks away with about $221 million, having sold his entire stake of 18.1 million shares after months of turmoil that…

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