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

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of