Bill Ackman Exercises Warrants and Buys 4 Mln Platform Specialty Products Corporation (PAH) Shares

Bill Ackman‘s Pershing Square increased holding of Platform Specialty Products Corporation (NYSE:PAH). A Form 4 filing with the SEC shows that the fund bought 4.2 million shares by exercising 12.5 million warrants with a conversion ratio of 1 share for 3 warrants and a conversion price of $11.50, significantly lower than the company’s current market price. As a result, Pershing Square upped its stake in Platform to 33.33 million shares from the 29.17 million shares acquired earlier this year, now owning 32.2% of the common stock.

PERSHING SQUARE

Platform Specialty Products Corporation (NYSE:PAH) is a global producer of high-technology specialty chemical products and provider of technical services. Since the company began trading on NYSE, its stock price grew steadily ranging from $11.75 to $22.35. Platform is expected to generate revenues of $750 million in 2014 and trades at a  Forward P/E of around 37. The mean analyst recommendation for the stock is “Buy”.

John Griffin‘s Blue Ridge Capital last month also revealed a new stake in Platform Specialty Products Corporation (NYSE:PAH), owning 8.0 million shares, which amount to 7.72% of the common stock of the company. Another significant shareholder of Platform is Stanhope Investments, holding 18.3 million shares that represent a share of 17.65% of the common stock.

Ackman’s Pershing Square has a very concentrated equity portfolio, with almost half of its value invested in Services and the rest in Consumer Goods, Financial, and Basic Materials. The highest holding in the portfolio (31.54%) amounts to 17.2 million shares worth $2.6 billion in Canadian Pacific Railway Limited (USA) (NYSE:CP), followed by 20.55 million shares worth $2.3 billion in Air Products & Chemicals, Inc. (NYSE:APD), with a share of 27.90% in the portfolio. Recently, the fund has significantly reduced its holding of 20.82 million shares worth $1.4 billion in BEAM Inc (NYSE:BEAM) to 11.67 million shares worth almost $1.0 billion .

Disclosure: none

Recommended Reading:

Sac Capital Advisors Reports New Stake in Momenta Pharmaceuticals, Inc. (MNTA)

3 Oil & Gas Stocks That Insiders Love

Clinton Group Cuts Stake in The Wet Seal, Inc. (WTSL)

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!