Billionaire investor William Ackman, who spent years building his reputation as a vocal corporate agitator, now plans to work mainly behind the scenes with management and adopt what he calls a 'quieter approach' to force change.
William 'Bill' Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermidBOSTON, March 29 - Billionaire investor William Ackman, who spent years building his reputation as a vocal corporate agitator, now plans to work mainly behind the scenes with management and adopt what he calls a "quieter approach" to force change.
Fresh off three years of strong double digit returns, Ackman told investors on Tuesday that corporate America now knows who he is and that there is no need for the kind of noisy tactics other activist investors might employ. "All of our interactions with companies over the last five years have been cordial, constructive and productive," Ackman wrote in the Pershing Square Holdings Annual Report."So if it is helpful to call this quieter approach Pershing Square 3.0, let it hereby be so anointed," he wrote.
Ackman on Tuesday put into writing what investors had long suspected; the once voluble investor who fought noisy proxy contests at Target
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