Billionaire Soros takes a stake in JCP

04/25/2013 | New York Times (tiered subscription model), The

Hedge fund billionaire George Soros has taken a 7.9% stake in J.C. Penney, according to regulatory documents filed Thursday, a move that may spur other investors to consider buying shares in the department store chain. Unlike Pershing Square Capital Management's William Ackman, Soros has a passive stake in the company, which means he won't try to influence operations.

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