NEW YORK — Activist investor Bill Ackman’s Pershing Square Capital Management has taken a stake of about $1 billion in Lowe’s Cos., joining hedge fund D.E. Shaw which invested in the company earlier this year. A source told CNBC that Ackman is not seeking a seat on Lowe’s board of directors. Ackman himself said he supports the company’s management, including new CEO Marvin Ellison, who was named this week after being wooed from the same position at JC Penney. Pershing Square declined to say whether it was involved in the return of Ellison, once executive VP of U.S. stores at Home Depot, to the home improvement sector.
Ackman buys into Lowe’s
Most Recent
Most Read
Consumer boycott of Loblaw Companies begins
Fri, May 03rd, 2024
Pont-Masson ad evokes a classic movie
Fri, May 03rd, 2024
Featured Classified: Taiga
Fri, May 03rd, 2024
Canfor announces earnings, acquisition
Thu, May 02nd, 2024
Two more retailers to showcase Quebec-made products
Thu, May 02nd, 2024
Throwback Thursday: “Canadians are ready to start spending again,” we reported ten years ago
Thu, May 02nd, 2024
RONA stores raise money in May to support communities
Thu, May 02nd, 2024
AD Canada garners recognition as great place to work
Thu, May 02nd, 2024
AQMAT unveils its “Family Portrait” of the industry in Quebec
Wed, May 01st, 2024
Is the honeymoon ending for self-checkout?
Wed, May 01st, 2024