Is There Any Value in Bill Ackman’s Holdings?

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Matson, on the other hand, has seen its share price drop nearly 6% over the past month. Most of this selloff can be attributed to the company’s devastating molasses spill in Honolulu harbor earlier this month. The spill is reported to have killed nearly all of the sea life in the area, and was “caused by a leak in a pipeline carrying the molasses to a ship owned by Matson,” according to MarketWatch’s The Tell blog.

Last week, Matson issued a statement promising it would payback the state of Hawaii for its cleanup efforts, and it is speculated that the costs may have a material effect on future earnings. The Associated Press reported last Friday that the company was notified of a leak in the pipe responsible for the spill in 2012, so this saga looks far from over. We’ll be watching Ackman’s moves in Matson as a result, and check back here for more on Bill Ackman’s holdings.

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