Ackman is 'profoundly' sorry for US$4b Valeant 'mistake'
Add BT as a preferred source
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.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
Are Keppel’s dividends truly unsustainable – or just misunderstood?
COEs for large cars up 4.3% at S$126,236, mainstream cars near S$125,000
