Ackman sets the stage for J.C. Penney exit

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

Pershing Square works out a registration rights agreement with J.C. Penney (JCP) to allow for the sale of blocks of shares.

At last count, Bill Ackman's fund held 17.7% of JCP.

There hasn't been any specific indication of the timing or amount of shares Ackman wants to sell.

JCP -1.2% premarket.