Activist investor Bill Ackman is paying approximately $5.5 billion for a 7.5 percent stake in snack maker Mondelez International Inc.
Ackman's Pershing Square Capital Management LP is buying about 120.3 million shares of the Deerfield, Illinois-based company. He hasn't yet said what, if anything, he intends to urge the maker of Oreo cookies and Cadbury chocolate to do, but the stake raised the possibility of further deal-making among big packaged food makers.
Mondelez's stock rose more than 5 percent in Thursday premarket trading.
Ackman is not the only activist investor with a stake in Mondelez. Nelson Peltz's Trian Fund Management LP holds a 3.1 percent stake in the...