Jan 30 Billionaire investor William Ackman’s
Pershing Square Capital Management has raised its stake in snack
maker Mondelez to 6.4 percent.
The hedge fund previously had a 5.6 percent stake in the
maker of Oreo cookies, Trident gum and Milka chocolate. (bit.ly/2kkV5LI)
Mondelez, one of Ackman’s bigger investments, cost Pershing
Square 1.4 percent in returns last year.
Ackman revealed in 2015 that Pershing Square had built a
stake worth about $5.5 billion in Mondelez, in what was seen as
an attempt to push the company to boost earnings or sell itself.
(Reporting by Anya George Tharakan in Bengaluru; Editing by