Bill Ackman wants to see home-improvement retailer Lowe’s Cos. catch up to its rival, Home Depot.
The New York hedge fund manager purchased a $1 billion stake in the company to make sure it happens.
Per The Wall Street Journal, Ackman — the founder and CEO of Pershing Square Capital Management LP — revealed the position at a conference in New York on Wednesday.
Ackman reportedly agrees with investment firm D.E. Shaw Group, which owns a 1 percent stake in Lowe’s (NYSE: LOW), that the…
Atlanta Business Journal
New York hedge fund manager invests billion to help Lowe's take on Home Depot