- The hedge fund for activist investor William Ackman has taken a $5.5 billion stake in Mondelez International Inc.
- According to Reuters, this is being "seen as an attempt to push the company to grow faster or sell itself."
- Ackman's move comes not long after Mondelez released its latest earnings report, in which the company reported its seventh straight drop in quarterly revenue and 600 job cuts in Chicago following the latest step in Mondelez's supply chain reinvention plan.
According to The Wall Street Journal, people familiar with the matter said that should Mondelez pursue a sale, Kraft Heinz or PepsiCo Inc could be potential buyers. WSJ said Ackman's move could be a signal that Mondelez could be "the biggest target in a wave of consolidation reshaping the food industry." Kraft Heinz was the latest and largest example of that consolidation, and should a company as large as Mondelez, which broke off from Kraft in 2012, be bought by another major entity, total dollar amounts for mergers and acquisitions in the food industry could continue to grow.