John Hempton says Bill Ackman "has killed Pershing Square. Its over." following news the firm raised its stake in Valeant Pharmaceuticals (NYSE: VRX) to 9.9%.

Bill Ackman has killed Pershing Square. Its over... https://t.co/1pp5XSHRme

— John_Hempton (@John_Hempton) November 23, 2015