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Sears Holdings Advances as Ackman Purchases Shares

October 04, 2007 | About:

Sears Holdings Corp., the largest U.S. department-store chain, rose as much as 3.9 percent in New York trading after hedge-fund manager William Ackman disclosed that he holds a 5-million-share stake in the retailer.

Ackman, the 41-year-old president of Pershing Square Capital Management in New York, confirmed the purchase in an e- mail yesterday. He didn't say why he bought the shares. He earlier disclosed the stake at a charity event this week in Dallas.

Last year Ackman thwarted Sears Chairman Edward Lampert's efforts to take full control of Sears Canada, saying the price was too low

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Rating: 2.9/5 (7 votes)

Comments

ndl11
Ndl11 - 7 years ago
Ackman is an activist investor. It will be awesome to see Eddie Lampert and Ackman go at it!
commodity
Commodity - 7 years ago
Must see value
harison
Harison - 7 years ago
Ackman and Lampert own something like 47% of the company now. This is such a no-brainer, don't even analyze, just buy and watch the money come in. Aside from them SAC, Force, and Spencer amongst other great hedge funds have stakes. I took my eye off of it, but if it pulls back on some bad SSS number or some nitwhit analysts downgrade I am all over it. Ackman and Chanos are my favorite money-managers today, SHLD is going much higher.

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