Activist Investor Bill Ackman Takes $1 Billion Stake In Lowe's: Report

Bill Ackman, via his Pershing Square Capital Management, has acquired a billion-dollar stake in home improvement retailer Lowe's (LOW), according to the Wall Street Journal, which said that Ackman revealed his stake at a conference in New York.

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The news comes a day after J.C. Penney (JCP) and Lowe's announced a major leadership shake-up at the top, with J.C. Penney CEO Marvin Ellison abruptly exiting to take the helm at Lowe's. According to the Journal, Ackman is in favor of the addition...

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