Activist Investor Ackman Picks Up Stake In P&G

Law360, New York (July 12, 2012, 4:50 PM EDT) -- A hedge fund run by activist investor Bill Ackman reportedly scooped up a sizable stake in Cincinnati-based Procter & Gamble Co. on Thursday, a sign that a shakeup could be looming for the brand-name household product maker that has struggled to stay on course post-recession.

It was unclear how big an interest Ackman's Pershing Square Capital Management LP snagged. A firm representative did not immediately respond to a request for comment Thursday, but the Wall Street Journal called it “large,” citing unnamed sources familiar with the...
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