Bill Ackman Took The Wrong Piece Of Advice From Drew Katz

In fairness he did get a sweet apartment out of it.
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Back in 2015, billboard mogul Drew Katz sent Bill Ackman an e-mail. Was he sure he wanted to be in business with these Valeant creeps? As a board member of the Wilson Disease Association, Katz knew that Valeant was ripping people off on Wilson Disease drugs, and thought Ackman should know. Also, Katz may have written in the post-script, he was trying to unload a Greenwich Village flat for a song. Perhaps Bill the penthouse-flipper might be interested? He could cover the $17 million easily if he just sold those Valeant shares, then trading for $150-ish.

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Ackman wasn’t hearing it on Valeant, even from a “very politically connected and influential person.” He knew a good thing when he saw it. Speaking of which—about that apartment….

Katz’s penthouse at 420 West Broadway went into contract, after languishing on the market for nearly a year. An anonymous LLC picked up the unit for $17 million. Multiple sources familiar with the transaction told The Real Deal that Ackman was the buyer.

In 2015, Bill Ackman quietly bought a NYC penthouse owned by the man who warned him about Valeant [The Real Deal]

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