Ackman is 'profoundly' sorry for US$4b Valeant 'mistake'
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
BILL Ackman "deeply and profoundly" apologised for his investment in Valeant Pharmaceuticals International Inc, a "huge mistake" that cost his firm US$4 billion.
In his annual letter to investors in his publicly traded fund Pershing Square Holdings Ltd, Mr Ackman in part blamed Valeant's overpaying for Salix Pharmaceuticals in 2015 for the drugmaker's downfall. But he also took blame for misjudging the company's management and its aggressive strategy.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
