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August 1, 2012
By: TOM BRANNA
Editor
• 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. Following the announcement, shares of P&G rose 4.4% to $64.09—a 52-week high. At press time, P&G shares were trading at $64.56. 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 ...
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