Activist investor William Ackman has built a stake worth about $5.5 billion in Mondelez International Inc , the maker of Cadbury chocolate and Oreo cookies, in what is seen as an attempt to push the company to boost earnings or sell itself.Mondelez has already taken steps to boost its operational performance, including shutting factories and shedding businesses. The company has also set a share buyback of up to $13.7 billion. But analysts said Ackman probably wants more."We suspect Mr Ackman's primary goal is to have Mondelz sold," JP Morgan analyst Ken Goldman wrote in a note.A slowdown in growth for the global packaged food industry has sparked a wave of consolidation as companies try to cut costs, boost efficiency and gain scale.
Mondelez International, Inc. is a snack food and beverage company. Shares of MDLZ traded higher by 0.78% or $0.36/share to $46.65. In the past year, the shares have traded as low as $31.83 and as high as $48.58. On average, 8312800 shares of MDLZ exchange hands on a given day and today's volume is recorded at 10842076.
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