Ackman Throwing His Weight Around?

Jul 19 2012 | 11:15am ET

Pershing Square Capital Management owns about 1% of Procter & Gamble. But founder William Ackman thinks that's enough to influence the company.

Ackman told the CNBC Delivering Alpha conference that Pershing Square has "about $1.8 billion invest in P&G." The hedge fund sold off its stake in Citigroup to buy the P&G shares.

He added that P&G shares are already worth more than Pershing Square paid for them, and that "it's hard to lose money in P&G at the current share price."

Ackman would not second the P&G board, which yesterday offered its unanimous support for CEO Bob McDonald. The hedge fund manager would only say, "I look forward to meeting him."

Ackman also told the event that he expects to make 15 times to 20 times his money on Pershing Square's stake in J.C. Penney Co.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note