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Nov 2, 2016 @ 11:17

Super Tuesday For Billionaire Bill Ackman As Valeant Surges On Deal Rumors, Herbalife Falls

 

Normally, when Valeant Pharmaceuticals and Herbalife are moving sharply in late trading, it means billionaire Bill Ackman is losing more money.

But on Tuesday afternoon, Ackman’s under-performing hedge fund Pershing Square Capital Management gained as its shares in embattled drugmaker Valeant Pharmaceuticals surged and a money-losing short trade against Herbalife moved closer to the black.

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