Ackman Sells Out of Citi (C) Position; Acquiring Large Proctor & Gamble (PG) Stake
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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.
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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