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Ackman to sell J.C. Penney stake for about $504.4M

NEW YORK — J.C. Penney's biggest investor, William Ackman, plans to sell his entire stake in the struggling department store operator for about $504.4 million — a loss of around $470 million from what he paid for it. The move comes two weeks after Ackman resigned from J.C. Penney Co.'s board as part of a deal ...

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