On Tuesday after the market closed, Bill Ackman’s Pershing Square filed a SC13D that outlined the company’s recently acquired position in Platform Specialty Products Corporation PAH.
The filing outlines that Ackman accumulated a 26.1 percent stake in the company; equivalent to 42,737,394 shares.
Item 4 in the filing outlines the purpose for the transaction, “The Reporting Persons believe that the Issuer’s Common Stock is undervalued and is an attractive investment.”
Shares of PAH are up 1.7 percent after hours Tuesday.
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