Ackman lockout

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Bill Ackman has blinked in his battle with JCPenney’s board.
The New York hedge-fund tycoon has abandoned his aggressive push to quickly replace the struggling department-store chain’s CEO, Mike Ullman, sources told The Post.
It wasn’t immediately clear under what conditions Ackman, Penney’s largest shareholder, will… …read more
Source: NY Post

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