Ackman playbook for Air Products could mirror Canadian Pacific

A look at Bill Ackman's involvement in Canadian Pacific (CP) could provide a playbook for what he may do with his 9.8% stake in Air Products (APD); he won a proxy contest to bring in new management and shares have soared since.

WSJ reports Ackman does not intend to press for a break-up of APD but instead will push for operational improvements.

Ackman says he would have acquired more shares if not for the poison pill plan put in place last week.

APD +4% premarket.

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