This article was first published on Activist Insight Online on October 29, 2019. For more information about the product, click here.
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Bill Ackman’s Pershing Square Holdings has announced the completion of another round of share repurchases, bringing the program closer to completion. The company reported it completed 99.3% of its plan to repurchase $100 million of its own shares.
The publicly-listed hedge fund said Monday it paid $18.57 per share on average for the repurchased shares.
Activist investor Asset Value Investors launched a campaign at Pershing Square in July, demanding a review of its decision to issue a 20-year bond. Pershing Square, which made the issuance to refinance its existing bonds, successfully proceeded with the offering.
Shares in Pershing Square Holdings were down 1.1% on Tuesday.