Ackman Sells Out of Citi (C) Position; Acquiring Large Proctor & Gamble (PG) Stake
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Price: $78.69 -0.16%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 3.1%
Revenue Growth %: +2.0%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 3.1%
Revenue Growth %: +2.0%
Trade PG Now!
Just now, activist investor and hedge fund man Bill Ackman said he is holding a $1.8 billion stake in consumer staple giant Proctor & Gamble (NYSE: PG).
Also interesting: Ackman sold out of his Citigroup (NYSE: C) position to free-up funds in order to make the deal happen.
Ackman said P&G's "stock is cheap."
Comments were made at CNBC's Delivering Alpha conference.
P&G and Citi shares are both up in late trading.
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Also interesting: Ackman sold out of his Citigroup (NYSE: C) position to free-up funds in order to make the deal happen.
Ackman said P&G's "stock is cheap."
Comments were made at CNBC's Delivering Alpha conference.
P&G and Citi shares are both up in late trading.
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*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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