Air Products & Chemicals Inc (APD): Bill Ackman Unloads 3.58 Million Shares

| December 27, 2016

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Billionaire Bill Ackman‘s Pershing Square recently filed a Form 13D with the SEC concerning Air Products & Chemicals Inc (NYSE:APD), in which it reported decreasing its stake in the company to 16.97 million shares, which amass 7.8% of the float, and include 4.03 million shares and 12.95 million shares underlying over-the-counter American-style call options. According to the filing, the three-year obligation period for the fund’s co-investment vehicles in Air Products & Chemicals will end on September 30, 2016, and the fund has sold 3.58 million shares to return the capital to those co-investment vehicles. The fund’s stake previously consisted of 20.55 million shares, which included 12.95 million shares underlying over-the-counter American-style call options, and 7.60 million common shares.

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