Vornado Reduces J.C. Penney Stake by 10 Million Shares

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Vornado Realty Trust is backing away from J.C. Penney Co. Inc. now that its effort to reshape the retailer alongside activist investor William Ackman has produced a year of steep losses and a dramatic...

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Vornado Reduces J.C. Penney Stake by 10 Million Shares

Real estate firm’s retreat hits retailer’s stock hard on Tuesday.

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