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Ackman is 'profoundly' sorry for US$4b Valeant 'mistake'

Mr Ackman said that he had learned lessons, including that "a management team with a superb long-term investment record is still capable of making significant mistakes".

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...

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