Breaking News

Pershing Square Takes Stake in P&G

July 12, 2012

Shares rose almost 5% at household and personal care giant.

Pershing Square Capital Management, a hedge fund led by CEO William Ackman, got cleared by the Federal Trade Commission to take a stake in Procter & Gamble, according to reports. As a result, shares of P&G rose 4.4% midday to $64.09—a 52-week high, added reports.

If Ackman does pursue an investment, he may push for the sale of several divisions to bolster shareholder value, said reports.

As of 2010, Pershing amassed a position in Target Corporation, reported at 26 million shares.

blog comments powered by Disqus
  • Innovation On Display

    Melissa Meisel, Associate Editor||February 3, 2016
    P&G Beauty Digital Studio showcases new products for 2016

  • Crowning Glory

    Crowning Glory

    Christine Esposito , Associate Editor||February 3, 2016
    Celebrity stylists and experts from leading hair care brands talk about the ingredients and formats driving the styling sector.

  • Electric Slide

    Electric Slide

    Melissa Meisel, Associate Editor||February 3, 2016
    Skin care devices bring anti-aging to the next level