BUZZ-Pershing Square: feeling the heat from Valeant slide

Wed Oct 21, 2015 12:00pm EDT
 
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** Pershing Square Holdings, the Amsterdam-listed units of Bill Ackman's fund, slumped more than 12 pct on Wednesday after Valeant saw more than a quarter of its market value wiped off

** Valeant, one of Ackman's largest holdings, saw shares tumble following report from short-seller Citron Research which questions company's distribution relationships

** Earlier this month Bill Ackman had called Valeant the most undervalued stock among his top holdings

** Valeant, currently being investigated by the US govt, has seen its market value slide from roughly $90 bln in August to about $35 bln following Wednesday's slide

(RM: vikram.subhedar.thomsonreuters.com@reuters.net)