The Deal’s Richard Collings reports that New York-based hedge fund Pershing Square Capital Management LP plans on filing a 13D with the Securities and Exchange Commission disclosing a 7.5% stake worth nearly $5.57 billion in food conglomerate Mondelez International Inc. (MDLZ). The activist said on Thursday it has accumulated close to 120.3 million shares in the Deerfield, Ill.-based cookie and candy maker. Mondelez’s stock initially shot up, opening at $51 per share, or more than 10%, but then backed off by midmorning and is now up by around 1%, to $46.78 per share. Pershing Square, headed by activist Bill Ackman, is placing a bet that Mondelez will be a target in the consolidating food industry, according to reports.
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