A recent New York Post article claimed the founder and CEO of Pershing Square Capital Management, Bill Ackman, had “ruined” Kraft Heinz’s potential attempt to acquire Mondelēz.
Not actively stopping the deal
Ackman's Pershing Square holds around 6.4% of shares in Mondelēz.
Pershing Square’s spokesperson Eric Kuo said, “the [New York Post] article is not saying that Bill is actively doing anything to prevent the deal.”
“The article is actually saying that Kraft Heinz is turned off by Bill being in the stock… It wouldn’t be correct to write anything about Bill doing something actively other than owning the stock.”
Pershing Square declined further comments on a Kraft Heinz-Mondelēz deal.
A source quoted by the New York Post alleged that Kraft Heinz “prefers stealth in its plans, and is likely turned off by Ackman’s apparent ‘come hither’ strategy.”
Mondelēz has declined to comment on the rumor.
Pershing Square disclosed owning almost 100 million shares of the Oreo maker, which accounts for approximately 6.4% of all shares of the company, according to a recent SEC filing.
The Wall Street Journal also recently broke the news that Mondelēz has partnered with the Chicago-based headhunter Heidrick & Struggles to assist with the its CEO succession plan.
But the company’s spokesperson later told ConfectioneryNews the current CEO Irene Rosenfeld will remain in her position at this point.
Mondelēz has previously shaken analysts’ stance on re-merging with Kraft Heinz as the company posted a full-year 2016 net revenue decline of 12.5%, according to this site.