Mondelez CEO Bracing For Earful From Bill Ackman

Irene Rosenfeld is already sick of hearing about "Oreo-flavored burritos."
By Evan-Amos (Own work) [Public domain], via Wikimedia Commons

By Evan-Amos (Own work) [Public domain], via Wikimedia Commons

Last week, Pershing Square Capital Management offered its investors a tantalizing glimpse at future money-losing opportunities, touting two new investments accounting for more than one-tenth of its assets. But rather than dazzle the assembled with a pair of 700-slide presentations making his case, Ackman tried a new tack: Coy.

He’s still mum on those new positions, but revealed today that he’s been on something of a shopping spree: To wit, he bought up 12 million of the Mondelez International shares he sold off in March, after Valeant Pharmaceuticals shares inconveniently cratered, much to the dismay of Mondelez CEO Irene Rosenfeld.

Billionaire investor William Ackman's Pershing Square Capital Management has raised its stake in snack maker Mondelez to 6.4 percent.

The hedge fund previously had a 5.6 percent stake in the maker of Oreo cookies, Trident gum and Milka chocolate.

For those counting, that’s another 5% of PS’ assets spent on Ackman’s sweettooth.

Ackman’s Pershing Square raises Mondelez stake [Reuters]